The academic literature and industrial reports have called for organizations to manage their corporaterisks; however, there is still a lack of studies on effective risk management that take advantage ofinformation technology (IT). Conventional IT-based internal controls allow organizations to buildshareholders’ confidence by ensuring transparency in internal business processes, but their capacity toeffectively manage comprehensive organizational risks is limited. In this study, we introduce riskintelligence as an effective risk management method. By applying key properties of businessintelligence (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 theapplication of BI to various aspects of corporate risk management. Our analysis shows that riskintelligence 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’sdecision making through integrated scenario planning.
Lee, Gunwoong and Kulkarni, Uday, "Business Intelligence in Corporate Risk Management" (2011). AMCIS 2011 Proceedings - All Submissions. 420.