Current Volume 8
Business Analytics-Driven Risk Assessment Model for Enhancing Financial Decision-Making in Corporations
Abstract
This paper presents a comprehensive analysis of a Business Analytics-Driven Risk Assessment Model to enhance corporate financial decision-making and risk management. The model integrates advanced business analytics, predictive analytics, machine learning, and scenario analysis to proactively identify, evaluate, and mitigate financial risks. Through a detailed literature review, the paper explores the theoretical foundations of business analytics and risk assessment, highlighting the limitations of traditional models and the evolution of modern approaches in corporate risk management. The proposed model’s application across various industries, including banking, insurance, retail, and manufacturing, demonstrates its versatility and effectiveness in real-world settings. Case studies illustrate how corporations have successfully implemented the model to optimize decision-making, reduce financial losses, and improve overall risk management strategies. Furthermore, the paper quantitatively analyzes the model’s impact on financial outcomes, showcasing its ability to improve forecasting accuracy and minimize risk exposure. While the research identifies key benefits, it also addresses challenges in data integration, organizational resistance, and technical expertise. Finally, the paper offers recommendations for corporations seeking to adopt this model and outlines potential future directions for enhancing its capabilities through emerging technologies such as blockchain and quantum computing.
Keywords
Business Analytics, Risk Assessment, Predictive Analytics, Financial Decision, Making, Machine Learning, Corporate Risk Management
Citations
IRE Journals:
Emmanuel Damilare Balogun , Kolade Olusola Ogunsola , Adebanji Samuel Ogunmokun
"Business Analytics-Driven Risk Assessment Model for Enhancing Financial Decision-Making in Corporations" Iconic Research And Engineering Journals Volume 7 Issue 7 2024 Page 624-640
IEEE:
Emmanuel Damilare Balogun , Kolade Olusola Ogunsola , Adebanji Samuel Ogunmokun
"Business Analytics-Driven Risk Assessment Model for Enhancing Financial Decision-Making in Corporations" Iconic Research And Engineering Journals, 7(7)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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