Question

The primary purpose of qualitative analytics is to rank and prioritize risks to determine if more analysis is justified. How would you begin your assessment of what competitive threats/risks may be good candidates for qualitative risk analysis which may also have the potential to become risks that require even deeper analysis? You should assume that your organization supports competitive intelligence analytics.

Answer 1

Here we will discuss what competitive threats/risks may be good candidates for qualitative risk analysis which may also have the potential to become a risk that requires even deeper analysis.

Before getting into types of threats and risks that may be a good candidate for qualitative risk analysis we need to understand the qualitative risk analysis. Qualitative risk analysis is that type of risk analysis that identifies the risk and then prioritizes them so that it would be a lot easier to find the solution about those risks, if it is still hard to find the solution then we will do a deeper analysis of those risks.

some of the threats/risks that may be a good candidate for qualitative risk analysis which may also have the potential to become a risk that required even analysis would be following below:-

1) COMPARING MULTIPLE ALTERNATIVE:- When it comes to comparing multiple alternatives, it can be really hard and tough at the times. Comparing various and multiple alternatives at once can be a mess and can create a lot of confusion therefore there is a strict need for qualitative analysis.

2) INSUFFICIENT DATA:- When there is insufficient data or not enough data for the smooth working in the organization, there is a strict need for qualitative risk analysis to make sure that this risk does not get further and disrupts the smooth functioning of the organization.

3) UNCERTAIN HAZARD:- Changes are dynamic and uncertain, there can be any uncertain hazard coming towards the organization to disrupt its smooth functioning.

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