Business intelligence in corporate risk management

Gunwoong Lee, Uday Kulkarni

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Scopus citations

Abstract

The academic literature and industrial reports have called for organizations to manage their corporate risks; however, there is still a lack of studies on effective risk management that take advantage of information technology (IT). Conventional IT-based internal controls allow organizations to build shareholders' confidence by ensuring transparency in internal business processes, but their capacity to effectively manage comprehensive organizational risks is limited. In this study, we introduce risk intelligence as an effective risk management method. By applying key properties of business intelligence (BI), risk intelligence can prepare organizations for a variety of severely disruptive events (including external risks) and empower them to take risks as a means to value creation. We explore the application of BI to various aspects of corporate risk management. Our analysis shows that risk intelligence can provide greater benefits to organizations by managing internal and external risks, improving the shock resilience before an event takes place, and supporting senior management's decision making through integrated scenario planning.

Original languageEnglish (US)
Title of host publication17th Americas Conference on Information Systems 2011, AMCIS 2011
Pages3720-3730
Number of pages11
StatePublished - Dec 1 2011
Event17th Americas Conference on Information Systems 2011, AMCIS 2011 - Detroit, MI, United States
Duration: Aug 4 2011Aug 8 2011

Publication series

Name17th Americas Conference on Information Systems 2011, AMCIS 2011
Volume5

Other

Other17th Americas Conference on Information Systems 2011, AMCIS 2011
CountryUnited States
CityDetroit, MI
Period8/4/118/8/11

Keywords

  • External risk
  • Internal control
  • Internal risk
  • Risk intelligence
  • Risk management

ASJC Scopus subject areas

  • Computer Science Applications
  • Computer Networks and Communications
  • Information Systems
  • Library and Information Sciences

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  • Cite this

    Lee, G., & Kulkarni, U. (2011). Business intelligence in corporate risk management. In 17th Americas Conference on Information Systems 2011, AMCIS 2011 (pp. 3720-3730). (17th Americas Conference on Information Systems 2011, AMCIS 2011; Vol. 5).