Business Intelligence for Risk Management: A Review

Abstract

This paper provides a quick review about business intelligence approaches and techniques in risk management. The important research articles from 2007 to 2021 are involved in this review. We found a little contribution from researchers in this research direction, however the vital role of business intelligence in risk management. Moreover, we provide a novel business approach for risk management. This approach includes deploying the trendiest techniques in this era which are social media and big data analysis. Social media represents the source of identifying risks through the discussions of social media users as well as big data analysis techniques which represent the control tool for potential risks. The new approach will help firms and organizations in many sectors to manage risks efficiently and make the best decisions. Further, we provide the challenges of the new framework and the further research points.