Answer each question below in paragraph form
- Based on the documents, discuss the challenges in using scenario analyses to measure low-probability risks. How are subject matter experts (SMEs) used to address these challenges? How are rigorous statistical methods used to address these challenges? How is visualization used in conjunction with other approaches to support scenario analysis of rare risk events?
Documents: https://www.bis.org/ifc/publ/ifcb33p.pdf
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Write My Essay For Me- Creating clear data visualizations is imperative for communicating insights and analysis about that data and offering guidance for actions based on those insights. With so many leading organizations relying on analytics projects to drive business strategies, the importance of data visualizations will only increase. Today, more business intelligence and analytics vendors are offering data visualization technologies and platforms in different formats including mobile apps and web-based formats. To complete this discussion, you will research a mobile-based data analytics tool.
Watch the following two videos to gain exposure to mobile analytics in action. Both examples use the industry leader Roambi.
Video Welcome to SAP Roambi
Video SAP BusinessObjects Roambi
Assume the role of a field sales representative meeting with some prospective buyers requesting additional product information. The most efficient way to meet this request is through the use of visual analytics on a mobile device such as a tablet or phone. Research one mobile analytics app and prepare an executive summary of its features and abilities for other field sales representatives to use. Your executive summary should include features of the app that will benefit business consumers.
The leading app is SAS Roambi. You can download a full working version of it on your iPhone/iPad or Android phone/tablet. It includes many different data analytic samples for a complete review of the analytic capabilities for mobile solutions. If you choose not to load the Roambi app on your mobile device, you can research other visual application features via the web. You may find an app of your own or use one of the following:
For a mobile solution to be effective, it typically has predefined templates that work properly on the mobile device. In your executive summary, consider the benefit of mobile templates offered by mobile visualization vendors. Describe the type of programming needed for mapping internal company data to a data map for the template visualizations as compared to the challenges of having to create mobile visualizations from the ground up.
SAMPLE SOLUTION
There are challenges experienced when using scenario analyses in measuring low probability risks. First, it is tedious since the individual risk scenario needs to be quantified at various probability frequency levels (Lubbe & Snyman, 2010). Moreover, experts are required to provide the annual loss frequency that is associated with each scenario. The information is used to construct the empirical cumulative distribution function associated with each scenario modeled using analytical distribution (Lubbe & Snyman, 2010). The subject matter expert is used to remedy the situation by ensuring that the details and facts used in the analysis are correct. This ensures that the deliverables meet the needs and expectations. For instance, the annual frequency estimate is allocated as a mean parameter of the poison distribution during frequency modeling (Lubbe & Snyman, 2010). Statistical methods are used in developing computation and establishing correlation or trends among the data. Moreover, statistical methods help analyze the raw data and provide alternative ways of assessing the results output (Lubbe & Snyman, 2010). Visualization techniques are used in data presentation or presenting…
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