The need for organizations to gather business intelligence has changed the face of risk management for many businesses and continues to be a growing trend. Some companies in the Asia Pacific region, however, are utilizing both physical data and IT data to enhance risk management options and gather a complete view of any given situation.
Business intelligence, by definition, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. Often referred to as BI, it is a discipline made up of several related activities, including data mining, online analytical processing, querying and reporting. In the risk management world, BI hinges on gathering information about a given incident, using sources such as video surveillance, transactional information, timestamped information and much more to build a complete picture of a specific incident.
Unstructured Data and Learning
Throughout the world, retail business, critical infrastructure, educational institutions, hospitals and many other organizations already gather video data to secure valuable assets, ensure the safety of customers and protect high-level technology. Much of the data being collected, however, can be interpreted in a different way.
“What we try to provide is actionable intelligence,” said Kevin Wine, Vice President of Marketing, Verint Video and Situation Intelligence Solutions. Verint’s Situation Management Center gathers data from areas that are a little bit unstructured in content – that is, video surveillance, audio recordings from customer service call centers or 911 recordings. “When we look at business ntelligence broadly, we look for ways to add structure to these non-structured data sets,” he said.
“Using a variety of approaches, software platforms look for other known events that are happening at the same time to track in parallel or related systems in the same context or through various forms of analytics – patterns happening in video, behaviors that are happening, and speech patterns to identify specific words,” Wine said. Using all of this information together, businesses can work toward mitigating risk… Click HERE to find out more about this article