Effective decision making and business intelligence is highly depended on the quality of data and information available. Hence, data and information of poor quality can lead to poor decision making and is causing a variety of risks in every organization. Recent publications in the IS area have shown the link between information quality and risk from both theoretical and practical perspectives. This paper extends this work by providing a mathematical model based on extensive empirical data to model information risk. Moreover, we provide a practical example how the model can be operationalized to calculate the total risk of an information product based on our case study data. It is an important step towards a comprehensive business impact assessment of information quality, which would allow to build more sensible business cases for information quality improvements for managers.