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Leveraging Data - How Advanced Analytics is Changing the World of Risk Management

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94% of Fortune 1000 companies experienced supply chain disruptions from VOVID-19 75% of companies have had negative or strongly negative impacts on their businesses. 55% of companies plan to downgrade their growth outlooks (or have already done so) Improve claims monitoring and management Manage equipment failures and safety-related loss events Automate internal controls to reduce instances of human error and fraud Performance management across the organization 3. Operational Risk Management Risk to business operations tends to be a rather large area to address. It encompasses a host of risks emanating from four major categories: people, process, systems, and external events. One major event (a long-lasting event that continues to have ramifications today) was the enormous disruption caused by the outbreak of COVID-19. The world has dealt with global pandemics in the past. But this one had unforeseen -- and largely unanticipated -- impacts on business operations around the world. Entire regions and economies in lockdown…loss of human life, jobs and entire businesses…fragmented supply chains. A recent article by Accenture highlighted the impact on the fragile supply chain: COVID-19 highlighted the lack of global resiliency and just how costly supply chain and operations have become. Technology such as artificial intelligence and machine learning can play a huge role. This includes: Some examples of how analytics can address operational risks include: LEVERAGING DATA | 6

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