BUSINESS INTELLIGENCE & PERFORMANCE MANGEMENT Solution
Adapt your planning to counter future risks
Do you still use occurrence probability and damage severity to assess risks or a risk or heat map to represent them? The disadvantage of these methods is that they suggest a level of accuracy that cannot exists in a business environment characterised by unforeseen events, complexity and ambiguity.
The starting point for risk management based on Cubeware Cockpit and CW1 is the identification of risks in an entry mask and the underlying catalogue of risks that combines fields of risk to form clusters or risk categories. During identification and assessment, principal risks in the risk fields are first determined based on expert estimates, financial data and historic analysis, and the risks are then approximately rated according to their relevance. Once risks have been identified and assessed, scenarios are and distribution functions are established. It is often only possible to define a range for maximum risk and the probability of occurrence at the level of individual risk. Overall risk is simulated using a random selection of individually occurring risks (risk scenario) in order to take account of uncertainties inherent in risk assessment. The Monte Carlo engine from our Cubeware partner HENDRICKS, ROST & CIE. is then used to analyse a large number of such scenarios.
- Increased forecasting quality through risk-adjusted forecasting
- Protection of the company through a more targeted defence against sudden changes
- Strengthened competitive position through faster detection and acting when faced with threats
- A better understanding of interdependencies and alternative countermeasures through scenario simulations
- User-friendly communication of risk information through data visualisation in the Cubeware Cockpit
Risk management – planning adapted to counter future risks
The individual steps of risk-adjusted planning for optimum risk management:
Our Certified partner HENDRICKS, ROST & CIE. (HRCIE.) is a business consultancy with management and top management as its target group. HRCIE. has long-standing experience from numerous planning and reporting projects. Business competence and excellence in implementation guarantee the success of your project. HRCIE. will support you with concepts and solutions for improving your decision-making and optimising your business management. To this end, HRCIE. works with the very best technological products in the field of business intelligence and performance management from reputable vendors including IBM and Microsoft in addition to Cubeware. The conclusion of the project involves the qualification of the customer team to enable them to use and develop the implemented solution without additional assistance.