Businesses routinely struggle in the risk management space to highlight and proactively address operational and hazardous risks in the same real-time manner as their counterparts in the financial and strategic forums. Yet the real-time risk intelligence is out there – readily available and free on the Internet, including social media, Google Earth, countless 24-hour news sites, and weather and sports feeds.
The upside is that you can easily set yourself up to receive a veritable tsunami of alerts and emails to every single device you have which is connected to a cable or wireless network. The downside is that we (as a global culture) have become news, alert, and even event-numb. All of these and countless other sites provide different types of real-time intelligence that could be filtered within a matter of seconds to apply to a business’ specific operational footprint, just like the numbers in the stock market are automatically filtered to provide the raw material for financial controllers. It’s no different. It’s just not being done.
So what’s the bottom line? Businesses need to know where their current risks are, where threats may be coming from, and what the next challenge is likely to be. They don’t need the results from a business impact analysis or risk assessment done a year ago (or longer). Real-time intelligence is a must-have demand for accountable decision-makers to make real-time decisions.