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- Title
RISK MITIGATION – THE BUSINESS ANALYTICS USAGE IN INDUSTRY 4.0 CONDITIONS.
- Authors
WOLNIAK, Radosław
- Abstract
Purpose: The purpose of this publication is to present the applications of usage of business analytics in risk mitigation. Design/methodology/approach: Critical literature analysis. Analysis of international literature from main databases and polish literature and legal acts connecting with researched topic. Findings: The incorporation of business analytics into risk mitigation strategies amid the landscape of Industry 4.0 signifies a pivotal paradigm shift in response to the multifaceted challenges posed by technological disruptions, supply chain vulnerabilities, regulatory changes, and cybersecurity threats. As industries undergo unprecedented digital transformations, traditional risk management approaches are rendered obsolete, prompting the integration of more data-driven and analytical methodologies. Business analytics plays a crucial role in this transformative shift, leveraging vast volumes of data generated in Industry 4.0 environments. Through advanced analytics techniques, organizations can proactively anticipate and respond to potential risks in real-time, with predictive analytics enabling the forecast of disruptions and the implementation of preemptive measures. Beyond immediate operational concerns, the applications of business analytics extend to supply chain optimization, cybersecurity monitoring, and regulatory compliance. The symbiotic relationship between business analytics and risk mitigation emerges as a cornerstone for sustainable and resilient business practices in the evolving landscape of Industry 4.0, emphasizing the necessity of addressing associated challenges and leveraging a diverse array of software applications for comprehensive risk management. Originality/Value: Detailed analysis of all subjects related to the problems connected with the usage of business analytics in the case of risk mitigation.
- Subjects
BUSINESS analytics; INDUSTRY 4.0; DIGITAL transformation; POLISH literature; INTERNET security laws; INCORPORATION; LEGAL literature
- Publication
Scientific Papers of Silesian University of Technology. Organization & Management / Zeszyty Naukowe Politechniki Slaskiej. Seria Organizacji i Zarzadzanie, 2024, Issue 196, p593
- ISSN
1641-3466
- Publication type
Article
- DOI
10.29119/1641-3466.2024.196.40