Risk Data

From Open Risk Manual

Definition

Risk Data denotes a defined set of information (data), in any format (but increasingly in digital form), that is used by an organization for diverse Risk Management and other business processes.

Usage

  • A risk data set is always accessed via a Risk Data Instance, the concete information technology tool that stores and provides access to the actual data.
  • Organizations typically use diverse sources of risk data, which formally can be organized using a Risk Data Taxonomy and enumerated in a Risk Data Inventory

Examples

Issues and Challenges

  • The adequacy of Data Infrastructure to support the diverse requirements for risk data use
  • Sufficient Data Quality to ensure appropriate use of risk data
  • The evaluation of whether risk data are fit-for-purpose is part of a variety of Risk Data Review processes

See Also


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