Leveraging advanced financial analytics for predictive risk management and strategic decision-making in global markets
Year: 2024
Type: article
Abstract: This paper explores the critical role of advanced financial analytics in enhancing predictive risk management and strategic decision-making within global markets. Organizations can effectively identify, assess, and mitigate risks by leveraging cutting-edge technologies such as machine learning, big data analytics, and predictive modeling. The paper analyzes how predictive analytics informs corporate strategy in volatile markets and highlights real-world applications across various sectors. It also examines the challenges organizations face when adopting financial analytics, including data privacy concerns, integration issues, and skill gaps, while discussing the opportunities that arise from overcoming these obstacles. Finally, the paper offers strategic recommendations for organizations seeking to maximize the benefits of financial analytics, emphasizing the need for robust data security, workforce upskilling, and effective data governance. These insights aim to help businesses leverage financial analytics for competitive advantage, improved decision-making, and enhanced risk management.
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4403745865