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)

Solutions

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 1 year ago

Next > < Previous

Related Solutions

Q3:Risk Identification and Mitigation plan – identify any five risk from at least two risk categories...

Q3:Risk Identification and Mitigation plan – identify any five risk from at least two risk categories for hr system. use SWOT techniqu to identify the Risks o SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats What are thr methodologies of hr system?

Write about the risk management plan which includes identification of risk, analysis, prioritization, mitigation and avoidance,...

Write about the risk management plan which includes identification of risk, analysis, prioritization, mitigation and avoidance, monitoring, reporting. Also prepare the risk register.(According to PMBOK) Risk management plan should be regarding the project of "supplying off-grid power energy to the local farms for the agricultural cultivation."

Research and include the following: Security Risk Mitigation Plan: Develop education plan for employees on security...

Research and include the following: Security Risk Mitigation Plan: Develop education plan for employees on security protocols and appropriate use. Provide risk response. Avoidance Transference Mitigation Acceptance Address change Management/Version Control. Outline acceptable use of organizational assets and data. Present employee policies (separation of duties/training).

Discuss the internal control considerations and identify issues and risk mitigation strategies

Research and include the following: Security Risk Mitigation Plan: Select and document security policies and controls.

Security Mitigation Plan discuss the following Research and include the following: Security Risk Mitigation Plan: Select and document security policies and controls. Create password policies. Document administrator roles and responsibilities. Document user roles and responsibilities. Determine authentication strategy. Determine intrusion detection and monitoring strategy. Determine virus detection strategies and protection. Create auditing policies and procedures. Develop education plan for employees on security protocols and appropriate use. Provide risk response. Avoidance Transference Mitigation Acceptance Address change Management/Version Control. Outline acceptable use of organizational assets and data. Present employee policies (separation of duties/training). Explain incident response. Incident types/category definitions Roles and responsibilities Reporting requirements/escalation Cyber-incident response...

Research and include the following: Security Risk Mitigation Plan: Select and document security policies and controls....

Research and include the following: Security Risk Mitigation Plan: Select and document security policies and controls. Create password policies. Document administrator roles and responsibilities. Document user roles and responsibilities. Determine an authentication strategy. Determine an intrusion detection and monitoring strategy. Determine virus detection strategies and protection. Create auditing policies and procedures.

Pick any topic and write a risk impact mitigation tree with 3 Risks, 2 impact for...

Pick any topic and write a risk impact mitigation tree with 3 Risks, 2 impact for each risk with one risk having 3 impacts, 2 Mitigations with one having 3 Mitigations, and 2 Gaps?

For this assignment, choose from any two categories products that are at different product life cycles...

For this assignment, choose from any two categories products that are at different product life cycles stages. Identify the product life cycle stages for your chosen products and provide explanations for why you believe they are at these stages. Then, provide answers to these two questions: Examine the product life cycles for your chosen two products relative to how it affects the company’s marketing strategies How would your suggestion be different for the two companies brand managers about making decisions...

2. Critique the following carbon mitigation wedge plan from the perspective of developing nations. Is this...

2. Critique the following carbon mitigation wedge plan from the perspective of developing nations. Is this friendly to the growth of these nations? Make sure you completely dissect the plan with respect to cost, energy needs, and threat of famine. Your critique should be 100-words or less. Wedge Strategy Sector Cost 1 Nuclear electricity Electricity $$ 2 Biofuels Biostorage/Trans $$ 3 Forest storage Biostorage $ 4 Solar electricity Electricity $$$ 5 Efficiency of power generation Electricity $ 6 Convert coal...

a) identify and describe at the least for categories of financial analysis? b)comparative analysis an important...

a) identify and describe at the least for categories of financial analysis? b)comparative analysis an important tool of financial analysis i. explain the usefulness of comparative financial statement analysis. ii. describe how financial statement comparisons are effectively made. iii. discuss the necessary precautions an analyst should take in performing the comparative analysis? c) ratio analysis an important tool of financial analysis. identify at least four rations using: i. statement of financial position exclusively ii statements of income date exclusively. iii....

Subjects