Why Organizations Are Acquiring Risk-Sensing Tech

Why Organizations Are Acquiring Risk-Sensing Tech

Why Organizations Are Acquiring Risk-Sensing TechWhy Organizations Are Acquiring Risk-Sensing Tech

Preparing for the worst comes with the territory for CIOs and IT leaders, and risk-sensing technology has the potential to anticipate market shifts.

Wide UsageWide Usage

80% of C-level execs say their organization uses risk-sensing tools.

Keeping PaceKeeping Pace

49% believe that data leveraging has emerged as the key way to mitigate the risk of being left behind.

Top Business Areas for Risk-Sensing ToolsTop Business Areas for Risk-Sensing Tools

Finance: 70%, Compliance: 66%, Operations: 65%, Strategies: 57%

Cautionary Developments, Part ICautionary Developments, Part I

35% say regulatory requirements currently present the greatest risk concerns, while 32% cite reputational risks and 29% say it’s the pace of innovation.

Cautionary Developments, Part IICautionary Developments, Part II

30% say the pace of innovation and regulatory requirements will emerge as the greatest risk concerns three years from now, while 25% cite talent-related risks and 24% say it is reputational risks.

Well StaffedWell Staffed

65% say they employ people with adequate knowledge to both monitor and analyze risk-sensing data and make it actionable for business.

External InputExternal Input

40% agree that outside parties—detached from internal management’s agendas and biases—can analyze risks with greater objectivity and expertise than insiders.

Best Practices: Identify the Risks to be MonitoredBest Practices: Identify the Risks to be Monitored

Work with senior leaders and stakeholders to target potential industry disruptors, metrics to track and thresholds that will trigger communication, escalation and countermeasures.

Best Practices: Define the Required Risk-Sensing ElementsBest Practices: Define the Required Risk-Sensing Elements

These would include relevant data extracts from structured and unstructured sources. Make sure you incorporate visualization tools that present these in a comprehensible form.

Best Practices: Configure Your PlatformBest Practices: Configure Your Platform

It must enrich data/findings by connecting them to trends impacting your sector, related industries, the economy, technology and regulatory compliance, among others.

Dennis McCafferty
Dennis McCafferty
Dennis McCafferty is a contributor to CIO Insight. He covers topics such as IT leadership, IT strategy, collaboration, and IT for businesses.

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