Why?

Mishandled risk events at colleges and universities have one distinct common point. 

They all started as emerging risk events that were not properly diagnosed and mitigated. These events, when initially reported, all provided the qualitative descriptive factors: Who was involved; when the initial event transpired; what departments/divisions were impacted; and definition of risk type (strategic, financial, operational, compliance, reputational). These factors are known as descriptive analytics. RiskClimate’s software, STORM (Strategic Organizational Risk Management) is designed to intersect artificial intelligence and rich data visualization to yield actionable predictive and prescriptive analytics ensuring everyone understands the significance of what has occurred and what may come.

Constant threats to institutional stability because of risk events that range from disruptive to disastrous and impact the following areas:
​
• Strategic
• Financial
• Operational
• Compliance
• Reputational

When not properly identified and resolved, emerging risk events can jeopardize both the fiscal and human resources of any organization. In worst case scenarios lives can be negatively altered or even lost.​​

Our enterprise risk management (ERM) software, STORM 1.0, designed specifically for institutions of higher education, provides streamlined risk forecasting and risk mitigation solutions based on predictive modeling, strategic visualization and virtual analytics.

​Reporting analytics virtually, as three-dimensional shapes, colors and sizes, allows users to see patterns in their data. This type of data visualization provides deep insight and empowers optimal risk management decisions across the enterprise.