Enhancing security and risk management with predictive analytics: A proactive approach
1 International Association of Computer Analysts and Researchers, Abuja, Nigeria.
2 OneAdvanced, UK.
3 Nigeria Inter-Bank Settlement System Plc (NIBSS), Nigeria.
4 Independent Researcher, UK.
Review
International Journal of Scholarly Research in Engineering and Technology, 2024, 04(01), 032–040.
Article DOI: 10.56781/ijsret.2024.4.1.0021
Publication history:
Received on 12 July 2024; revised on 17 August 2024; accepted on 20 August 2024
Abstract:
and interconnected world. This paper explores the transformative potential of predictive analytics in enhancing security and risk management by shifting from reactive to proactive strategies. Examining the theoretical foundations and application areas of predictive analytics, the paper highlights how organizations can anticipate and mitigate risks across various domains, including cybersecurity, fraud detection, and supply chain management. The benefits of predictive analytics, such as early threat detection and optimized resource allocation, are discussed alongside data quality, privacy, and model interpretability challenges. Additionally, emerging trends, such as artificial intelligence, real-time data analytics, and blockchain technology, are key drivers shaping the future of predictive analytics in risk management. The paper concludes by emphasizing organizations' need to integrate predictive analytics into their risk management frameworks to enhance resilience and ensure long-term success in a rapidly evolving risk landscape.
Keywords:
Predictive Analytics; Risk Management; Security; Proactive Approach; Cybersecurity; Artificial Intelligence
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0