Risk Identification and Mitigation plan – identify any five risk from at least two risk categories....

Risk Identification and Mitigation plan – identify any five risk from at least two risk categories. In the Business Intelligence System
You can use any of the following techniques to identify the Risks
o SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats)
o Scenario planning
o Morphological
o Cross-impact
o CBR (Case-based reasoning)

Expert Solution

Business Intelligence System can be understood as the combination of the activities including the integration, coordination, coordination, and the representation of the business facts which helps in the decision making process. It helps in ascertaining the future trends based on the past and the present scenario of the business and helps in effective planning. The business Intelligence systems have to go with many types of risks and obstacles. The business Intelligence System is based on data and it is the first risk category and the most occurred risk in this system is also related to the data, It is seen that the data which is entered is not properly validated and hence a polluted data is entered in the system. It may be the result of the inattentiveness of the staff or the source of data (external) has not provided reliable data. This makes the whole system very complex making the processes very longer. Sometimes the data are provided in a data warehouse that has some typical language or it is not easy to understand. This is another risk involved in the business intelligence system. As if the data is not interpreted well then we will not be able to perform further work and it will be loaded in the system but will not result in any meaningful results. The third risk in this category is the volume of data. If the data warehouse has a large volume of data then it will increase the burden on the system and the accuracy may be affected. The huge volume of data will also have an impact on the whole system as it will have to bear the extra burden. The agencies will not be able to get the derived results in the time in which they require it.

The next category is the technology on which the whole business intelligence system works. The ETL (extraction, transformation, and loading) process is the main thing on which the business intelligence system relies upon. It also includes approximately 80% of the cost invested in the business intelligence systems. If the ETL process is very complex then also the authenticity of the data and the results will take a lot of time. There are various reasons like the data which are backdated. Also sometimes there is a very high volume of data and sometimes there remains no data. So, this hampers the work efficiency of the business intelligence system. The data which are put in the business intelligence systems are pushed by the IT departments alone without taking the view from the managers and the agencies which rely upon their results. They solely work on their own and do not give respect to the needs of the customers. The technology is pushed on the clients without their wish. This results in delivering results that are of no use. So, these are the risks involved in the business intelligence systems under the categories data and technology.

Rahul Sunny answered 2 years ago

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