Cloud-Based Supply Chain Risk Management Is Key To A Company’s Future

Smart Data Collective

One of the areas where cloud technology has had a large impact is with supply chain management. It’s important to know how to protect your own firm from spend risk, supply chain disruption while enhancing the company’s ability to thrive. Mitigate spend risk in real time.

Ways in Which AI can Improve Enterprise Risk Management


However, risk management is no way lagging. ERM or Enterprise Risk Management is being used to identify crises long before it blows up into a huge problem. AI for risk assessment and management is a trending topic in the market for many reasons. AI for risk.

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How a “PRACtical” Approach to Risk Management Will Aid COVID-19 Recovery Efforts

John Wheeler

As the recovery efforts fully take hold in 2021, a deep understanding of the integrated nature of risks associated with business operations will take center stage. A “PRACtical” Approach Provides a Balanced View of Risk.

A “PRACtical” View of Emerging Risk Management Technologies

John Wheeler

Gartner’s “Hype Cycle for Risk Management, 2019” report was published almost a month ago and reader response has been overwhelmingly positive. In this year’s report, we highlight the need for a “PRACtical” view of risk management technologies to fuel digital business growth. Hype Cycle for Risk Management, 2019 Source: Gartner.

Data Scalability Raises Considerable Risk Management Concerns

Smart Data Collective

The Relationship between Big Data and Risk Management. While the sophisticated Internet of Things can positively impact your business, it also carries a significant risk of data misuse. The application of big data to your organization’s risk management system ensures that you get a comprehensive system that will safeguard your data, revenue streams, and predict changes that may affect the growth of the company (either negatively or positively).

Streamlining the AI model risk management process

IBM Big Data Hub

But some AI models can add complexity and risk. You can minimize that risk and also streamline the process of model validation by using IBM Cloud Pak for Data , a data and AI platform that includes IBM Watson Studio, Watson Machine Learning, Watson OpenScale and other services Many financial firms are increasing their use of AI models because they can represent the real world more accurately, and they can deliver better projections than traditional, rule-based models.

How Big Data Analytics Improves Reputation Risk Management In Banking Sector


In the banking industry, trust is the largest bankable asset for any institution and its risk profiling happens to be the most volatile, complex, and regressional one among the non-systematic risks.

IRM Is Essential for Digital Transformation Success

John Wheeler

Last week, I had the distinct privilege to join my Gartner colleagues from our Risk Management Leadership Council in presenting the Q4 2018 Emerging Risk Report. We hosted more than 500 risk leaders across the globe in our exploration of the most critical risks. The Q4 2018 Emerging Risks Survey, designed by Gartner, captures and analyzes senior executives’ opinions on emerging risks and provides actionable insight on identifying and mitigating these risks.

20 for 20: Top 20 IRM Research Publications

John Wheeler

This month, we continue our “20 for 20” theme by highlighting the top 20 “most read” research publications in our integrated risk management (IRM) compendium. Magic Quadrant for Integrated Risk Management, 2018. Hype Cycle for Risk Management, 2019.

Digital Risk is Primary Focus for Corporate Boards in 2020 & Beyond

John Wheeler

Digital risk continues to grow in importance for corporate boards as they recognize the critical nature of digital business transformation today. Not only that, but 49% of directors cite the need to reduce legal, compliance and reputation risk related to digital investments.

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IRM 2020: Market Momentum Continues

John Wheeler

2020 marks Gartner’s fifth year of integrated risk management (IRM) technology coverage and the market continues to grow at a rapid pace. These new digital products and services create a host of new risks that require IRM technology.

Financial institutions can gain new AI model risk management capabilities with IBM Watson OpenScale

IBM Big Data Hub

However, AI models introduce new risks Many financial institutions are rapidly developing and adopting AI models. They’re using the models to achieve new competitive advantages such as being able to make faster and more successful underwriting decisions.

Here’s Why IRM Solutions Are Superior to Archaic GRC Technology

John Wheeler

Gartner clients are consistently searching for ways to improve their risk management programs to deliver greater value to the enterprise. Whether it is to bolster performance in support of new digital transformation efforts or to reduce spend associated with bloated governance, risk and compliance (GRC) bureaucracies, the need for better solutions is real. That’s why Gartner has been promoting integrated risk management (IRM) solutions for the past 4 years.

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Why Technology Providers Now “Get IRM”

John Wheeler

This past week, I enjoyed meeting with over 1,000 attendees at our annual Gartner Security and Risk Management Conference in London. At the event, the overwhelming feedback received is that integrated risk management (IRM) is needed now more than ever. In our annual 2019 CEO Survey , 82% say that their companies have a management initiative or program in place to make the business more digital – see graphic below. .

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4 Reasons Why GRC Is a Useless Term

John Wheeler

It has been 5 years since Gartner embarked on the journey to enhance our coverage of the risk management technology marketplace. That journey included in-depth survey research and countless interactions with our end-user clients to understand their need to better manage strategic, operational and IT/cybersecurity risks. These end-user needs and resulting demand led to the definition of a new technology marketplace – integrated risk management (IRM).

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IRM Market Visionaries and Challengers Join Forces to Battle Leaders

John Wheeler

In the span of a week, the integrated risk management (IRM) technology market has experienced significant consolidation. Four vendors from Gartner’s inaugural 2018 IRM Magic Quadrant have joined forces to evolve their legacy governance, risk and compliance (GRC) offerings to better compete in the IRM market (see figure below).

GRC 2020: The Approaching Year of Final Demise

John Wheeler

Gartner kicked-off it’s global series of 2019 Security & Risk Management Summit Conferences last month in Washington, DC. It’s here where we receive direct feedback from both technology providers as well as end-users on emerging trends and technologies for security and risk management. One of the major trends receiving overwhelming attendee support is GRC (governance, risk and compliance) technology is quickly fading in use.

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4 IRM Market Trends Will Accelerate in COVID-19 Recovery

John Wheeler

Integrated Risk Management (IRM) technology is uniquely suited to address the myriad of risks arising from the current crisis and future COVID-19 recovery. These efforts demonstrate the rising need for an integrated approach to risk management and highlight the following four IRM market trends. As more businesses are maturing their risk management practices, the buying center for IRM is shifting.

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Top 10 Gartner Emerging Technologies Client Topics for 2019

John Wheeler

In addition to some of the likely topics such as blockchain and AI, we are also seeing great interest in how TSPs can offer better risk management and security capabilities.

Why Leading Software Vendors Are Dumping GRC for IRM

John Wheeler

One of the most common questions I receive from software vendors has to be “what’s the difference between governance, risk and compliance (GRC) and integrated risk management (IRM) solutions?” Gartner has been publishing research about integrated risk management (IRM) for the past two years. Also, read more about risk management topics in my latest Gartner research.

GDPR Requires IRM For Fast and Effective Response

John Wheeler

This week, Gartner hosted its annual Security & Risk Management Summit in London and the buzz at the event centered on the new risks associated with the General Data Protection Regulation (GDPR). It’s no wonder that CEOs consider risk management as one of their top priorities in 2018 (see figure below). To respond quickly and effectively, an integrated risk management (IRM) approach and toolset is required.

Innovative IRM Solutions Disrupt Outdated GRC Market

John Wheeler

Gartner published its inaugural Magic Quadrant for Integrated Risk Management (IRM) several weeks ago and feedback from end-user customers has been overwhelmingly positive. What is most noteworthy is the shift away from the old, monolithic governance, risk and compliance (GRC) software platforms. The question for risk management technology end-users has become “Who will be the last GRC software provider?”

7 Ways To Prevent Data Breaches With Technology And Training

Smart Data Collective

This minimizes the risk of data breaches. Data Management Privacy Risk Management SmartData Collective Exclusive data breaches prevent data breaches technology

2 Success Factors Every Top IRM Tech Solution Must Deliver

John Wheeler

The same can occur for integrated risk management (IRM) technology customers. At the same time, IRM technology must ensure the objectives remain in alignment with the risk management goals of key stakeholders such as the board of directors, senior executives, regulators and investors. Gartner evaluates IRM technology solutions for balance by determining how well they enable the six primary IRM technology use cases: Digital Risk Management.

Digital Risk “Techquilibrium” Requires IRM

John Wheeler

Over the past month, I’ve been speaking to various groups to help them prepare for the onslaught of digital risks in their organizations. A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches. Digital Risk Management – Gartner. However, in the pursuit of techquilibrium, organizations must take their risk analysis a step further to the strategic view.

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20 for 20: Emerging Tech & Trends Top 20 Topics for 1H 2020

John Wheeler

Interestingly, integrated risk management (IRM) topped the list as a result of increasing interest in business continuity, environment, health & safety (EH&S) and third-party risk management. Technologies such as smart spaces , digital risk management (DRM) , secure access service edge (SASE) and zero trust network access (ZTNA) are emerging as critical needs in this new working environment.

Top Use Cases for Enterprise Architecture: Architect Everything


It helps model, manage and transform mission-critical value streams across industries, as well as identify sensitive information. The Regulatory Rationale for Integrating Data Management & Data Governance. Data security/risk management. Today’s enterprise embraces data governance to drive data opportunities , including growing revenue, and limit data risks, including regulatory and compliance gaffes. Innovation management.

What Ever Happened to GRC?

John Wheeler

In our ongoing coverage of Integrated Risk Management (IRM) technology and service providers, the relevance and frequency of client inquiry related to Governance, Risk & Compliance (GRC) continues to decline. In the early part of this decade, GRC climbed the “Slope of Enlightenment” into the “Plateau of Productivity” as customers matured their risk management and compliance programs.

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Information Builders and Capital Markets Consulting Launch Global Partnership to Address Risk Management

Information Builders

Today at the 2015 CEB Financial Services Technology Summit, Information Builders, a leader in business intelligence ( BI ) and analytics, information integrity, and integration solutions, announced a global partnership with Capital Markets Consulting to help banks, investment managers, and regulators facilitate improved data analysis and enable better informed investment decisions, manage risk, and meet regulatory requirements

Are You Ready for Some IRM? Gartner’s 2018 Security & Risk Summit Events Span the Globe

John Wheeler

A central theme for this year’s summit is how integrated risk management (IRM) can improve overall resilience to withstand a major cyber attack. “Cybersecurity Redefined in the Digital Era” describes how an IRM strategy must incorporate system assurance, business continuity and safety management inputs to develop a multi-domain approach for cyber and physical security (see figure below). 1) State of Risk Management, 2018 .

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Recent Cyber Attacks Demonstrate Why IRM is Critical for ERM Success

John Wheeler

So, how can these emerging risks be managed to limit the amount of business disruption? Gartner recommends an integrated risk management (IRM) approach that links the strategic focus of enterprise risk management (ERM) programs with the tactical steps necessary to secure the most relevant business assets. However, ERM programs are not as effective addressing risks at lower levels that can have an equally devastating impact.

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Data is Risky Business: The Data Crisis Unmasked


Big Data Columns Big Data News, Articles, & Education Business Intelligence Columns Business Intelligence News, Articles, & Education Data Columns Data Education Data Management Columns Data Management News, Articles, & Education Data Quality Columns Data Quality News, Articles, & Education Data Strategy Columns Data Strategy News, Articles, & Education Data Topics COVID-19 data debt data ethics data management obrien risk management

Data is Risky Business: Group Think and the Man Behind the Curtain


There have been a couple of different things converged in my media feeds that highlight a key issue that all data management professionals and leaders in information management need to be conscious of – Group Think. This manifests itself in at least two ways in the following examples I’ll use to illustrate my points. Each […].

Using Strategic Data Governance to Manage GDPR/CCPA Complexity


In light of recent, high-profile data breaches, it’s past-time we re-examined strategic data governance and its role in managing regulatory requirements. So it’s important to understand how to use strategic data governance to manage the complexity of regulatory compliance and other business objectives … Designing and Operationalizing Regulatory Compliance Strategy. Manage policies and rules.

The Top Three Benefits of Enterprise Architecture


It provides a holistic, top down view of structure and systems, making it invaluable in managing the complexities of data-driven business. As a matter of fact, Gartner has said that EA is becoming a “form of internal management consulting” because it helps define and shape business and operating models, identify risk and opportunities, and create technology roadmaps to suit. Enterprise architecture (EA) benefits modern organizations in many ways.

Tips for a Data Backup Plan


If you are targeted by a criminal online, then you risk losing everything— from your essential data to your reputation. Cyber-attacks are a huge problem for today’s businesses. The average cost of a global data breach cost has increased in 2019 and is now $3.92 million. That means that any breach could bankrupt your business. […].

Data Governance Makes Data Security Less Scary


The Regulatory Rationale for Integrating Data Management & Data Governance. Data is a critical asset used to operate, manage and grow a business. While sometimes at rest in databases, data lakes and data warehouses; a large percentage is federated and integrated across the enterprise, introducing governance, manageability and risk issues that must be managed. So being prepared means you can minimize your risk exposure and the damage to your reputation.

The Importance of Data Protection During the Coronavirus Pandemic

Smart Data Collective

Best Practices Big Data Data Management IT Privacy Risk Management Security #GDPR Coronavirus Pandemic cybersecurity data breach data management data protection data security social dataDuring the recent coronavirus pandemic, we’ve been spending more and more time indoors. That makes us do more things on the internet. Some of us who were lucky enough to keep our jobs and work from home are also continually browsing the web.

Data Privacy Advocates Must Avoid GDPR Complacency at All Costs

Smart Data Collective

Consumers need to be aware of the risks and take appropriate measures. Data privacy risks remain a concern after the passage of the GDPR. However, there are still important privacy risks that consumers need to be aware of. Some of the biggest risks are listed below. They use VPS hosting and a dedicated seedbox in Netherlands , which reduces the risk that a hacker could conduct a DDoS attack and can provide better encryption.

Managing mortgage risk in an uncertain world


The trouble is, mortgage lenders persist in relying on historical macro-economic assumptions in their models so they risk repeating the errors of a decade ago when banks – and their regulators – failed to recognize the warning signs from a far richer source: low-level micro-economic data. They also fail to model the effects of fear and the risk of contagion. Risk management 3.0. Machine Learning Mortgage Risk Management

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7 Disastrous Cybersecurity Mistakes In A Big Data World

Smart Data Collective

Companies rely on data to deliver efficient services, but they also have to worry about cybersecurity risks. As big data leads to new cybersecurity risks , a growing number of managers are falling victim. It is a manager’s responsibility to look after this information. Unfortunately, there are simple mistakes made by managers every day that is costing them dearly. Not everyone knows about the risks of cyber-attacks.

AI the Perfect Solution to the Identity Fraud Epidemic

Smart Data Collective

AI analyzes your past behaviors and uses that information to assess the risk of the current transaction you’re trying to make. It also makes your AI smarter as they use that information, they just processed to successfully decline customers that may be high-risk.

4 Ways Big Data Has Made Bluetooth A Terrifying Security Risk

Smart Data Collective

On the other hand, big data has created a number of security risks that they need to be aware of, especially with brands leveraging Hadoop technology. Big data has created a number of security risks for Bluetooth users. Bluetooth Security Risks in the Age of Big Data. Today, the company has discovered that data has created a number of risks. This means that users’ personal information is at risk every time they use a Bluetooth device.

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