The risk analytics technique measures, quantifies, and predicts risks from the past data. It provides organizations with valuable insights to make better decisions and increase revenue while reducing the risk costs. The risk analytics process includes identifying risks, categorizing them according to priority, and quantifying them based on historical data, information from firms, and third-party establishments. The risk analytics market comprises risk analytics software and services embedded with techniques that comprehensively measure, quantify, and predict risks through effective utilization of historical data. The organizations are prone to various types of risks, such as credit risk, hedging risk, governance risk, fraud risk, and technology risk, which can be detrimental to their business in terms of loss of revenue and goodwill in the market. A risk analytics software facilitates enterprises to establish a baseline for measuring risk across various verticals, such as banking and financial services, insurance, healthcare and life sciences, and retail and consumer goods by incorporating all the facets of risks together into a single unified system that provides the key decision maker in an organization with adequate clarity in identifying, viewing, understanding, and managing the risks.
The vendors are placed into 4 categories based on their performance in each criterion: “vanguards,” “innovators,” “emerging,” and “dynamic.” The top 25 vendors in the risk analytics market have been evaluated, including Advanced Risk Analytics Private Limited, AxiomSL, Inc., BlackRock, Inc., CubeLogic Ltd., Equarius Risk Analytics, Fidelity National Information Services Inc., Gurucul, International Business Machines Corporation, IsoMetrix, Markit Group Limited, Misys ,Montana Analytics LLC, Moody Corporation, MSCI Inc., NICE, Oracle Corporation, Provenir, Quaternion Risk Management Ltd., Risk Based Security, Risk Edge Solutions, SAI Global Pty Limited, SAP SE ,SAS Institute Inc., Verisk Analytics, Inc., and Windbeam Risk Analytics, LLC.
Vendors who fall into this category receive high scores for most of the evaluation criteria. They have strong and established product portfolios and a very strong market presence. They provide mature and reputable risk analytics software and services. They also have strong business strategies. Vendors who fall under this category are Fidelity National Information Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, and SAS Institute Inc.
Innovators in this MicroQuadrant are vendors that have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have a very strong growth strategy for their overall businesses. Vendors who fall under this category are Advanced Risk Analytics Private Limited, AxiomSL, Inc., BlackRock, Inc., Equarius Risk Analytics, Gurucul, LogicManager, Inc, Markit Group Limited, Misys, MSCI Inc., Provenir, Risk Based Security, Risk Edge Solutions, and Windbeam Risk Analytics, LLC.
They are established vendors with very strong business strategies. However, they are low in their product portfolios. They focus on a specific type of technology related to the product. Vendors who fall under this category are Moody Corporation, and Verisk Analytics, Inc.
They are vendors with niche product offerings and are starting to gain their positions in the market. They do not have many strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before getting a significant traction in the market. Vendors who fall under this category are CubeLogic Ltd., IsoMetrix, Montana Analytics LLC, NICE, SAI Global Pty Limited
Risk Analytics Software Quadrant
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- Breadth and Depth of Product Offerings
- Provide a list of Risk Analytics product
- Product variants or licenses (such as enterprise, professional) offered
- Services Offered
- Training support and maintanence services
- Consulting services
- Managed Services
- Any other professional services
- Amongst the listed software, which of the following does your product provides
- Extract, transform and load (ETL) tools
- Risk Calculation Engines
- Scorecard and Visualization Tools
- GRC Software
- Other Applications ( Portfolio Management, Operation Risk Analysis)
- Product Features and Functionality
- Batch-data/Real-time procssing technique
- Which of the following type of risk is supported by your risk analytics product?
- Market Risk
- Credit Risk
- Operations Risk
- Enviornment Risk
- Strategic Risk
- What type of solutions your product is offering?
- Information Extraction
- Analytical Engine
- Scorecard Generation and Data Visualization
- Risk Reporting
- Other Solutions
- What are the applications your product provide in the risk analytics market ?
- Fraud Detection and Prevention
- Liquidity Risk Analytics
- Credit Risk Management
- Real-time situational awareness
- Industry benchmarking and validation
- Which of the following is the most preferred mode of delivery at client locations?
- Full Time Equivalent
- Subscription / Licensing
- Per User Basis
- Which of the following end-user(s) does your risk analytics product caters to?
- Finacial Services
- Healthcare and Life Sciences
- IT and Telecommunication
- Governmnet and Defense
- Media and Entertainment
- Other, please specify
- Which of the following deployment model do you provide?
- Hosted / On-Cloud
- How do you deliver your solutions to your customers?
- Through Partners / Third-Party Vendors / MSSPs
- Support and Services
- Support (such as silver, gold, and platinum) offered
- Customer redressal mechanism/program in case of customer complaints/grievances
- Which of the following type(s) of support service your company offers?
- Technical Support
- Sales Support
- Customer Support
- Other Support Services
- Which of the following pre-sales support activities do you provide?
- Software Requirement Specification (SRS)
- Proof of Concept
- Product Demos
- Dedicated Account Manager (DAM)
- Which of the following is the most preferred medium of delivery of support services?
- On-Site Support
- Remote Support