Risk Analytics
When we think about risk management and risk analytics, we think of Formula 1 race cars—arguably the most sophisticated form of racing in the world. A Formula 1 team succeeds or fails based on its use of analytics. The proper collection, analysis, and implementing changes based on data can be the difference between winning a race, finishing tenth, or even more tragic outcomes such as precipitating an accident. It is why data companies use Formula 1 cars so often in their advertising.
A Formula 1 team has many different layers of analytics and many different types of data that it analyzes. There is timing data that is measured to the one-thousandth of a second, and then there is the much more imprecise “feel” of the ...
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