Category: Enterprise Risk Mitigation (ERM)

Top Risk Management Issues Facing Higher Education

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Published 12/24/2019

Institutions of higher education (IHEs) are besieged by risk, especially cybersecurity and information security risk. Risk management for these institutions is critical but also extremely challenging, like trying to juggle balls and lighted torches all at once. Colleges and universities are worlds in themselves, providing not only classroom learning but health care, living quarters, meals, athletics, entertainment, research opportunities, and more to students, faculty, and staff. To pull it off, higher education institutions must collect a lot of personal data such as health records, financial information, scholastic records, and insurance information. These are the details that enable colleges to meet the needs of so many people every day. But possessing all this data makes every college and state university an…

Applying Big Data to Risk Management

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Published 06/13/2019

The era of Big Data is here. Information now exceeds fantastic proportions, globally measured in zettabytes (each zettabyte is a billion terabytes) and growing at an exponential rate that defies comprehension. According to the IDC, global data is expected to grow from 23 Zettabytes (ZB) in 2017 to 175 ZB by 2025. And depending on your industry and specific organization, you likely have plentiful external and internal data sources readily available for mining, applying predictive analytics and creating viable projections. Leveraging data allows companies the ability to improve income streams, more effectively direct operations and enhance the customer experience. Overall your organizational health improves dramatically when data is accurately assessed. But big data also is a powerful – and vital–tool…