Insights & Ideas

Risk in Action: The Importance of Data in Supplier Risk Management

React to Risk – Fast

There is a lot of talk about Big Data – most of it in theory. When theory meets reality, it is clear the tangible benefits of Big Data Analytics. Risk is a perfect example of why it is critical to have the infrastructure in place to be able to identify, analyze and respond to changing conditions – fast.

There are risks that you prepare for of course, but often, it is the ones that come out of the blue that can have the most impact on your organization – and require the insight to know the impact on your organization. This is why it is critical to have the analytics-ready data and infrastructure to be able to respond to unforeseen risk and respond appropriately to ensure no further disruption to your organization.

 

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Risks can take many forms: geological, political and many others, which is why having the right infrastructure in place is key.

Real Risk

As an example, we have created an interactive impact map, relating to the current uncertainty between Russia and the Ukraine. This map details the companies that have ties with a Russian parent company – and the locations of these subsidiaries. It also enables organizations to gain an understanding of the risk impact at a global and local level to enable you to respond accordingly. In this map, you can:

  • Search by parent company
  • Search by country
  • Zoom into locations
  • Understand turnover at risk
  • Dissect by business type

*The map is for illustrative purposes, and provides no recommendations as to any actions that should be taken as a result of the information that is provided therein. Should you require more information on big data and global geo-political risk management, please get in touch with Rosslyn Analytics. Rosslyn Analytics accepts no liability for any action taken as a result of this information.

 

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