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Applied Risk Science

A proprietary and analytical approach, using cutting-edge technology to identify, manage, and mitigate total risk.

Pinkerton Applied Risk Science

For many companies, assessing risk remains a process of reviewing historical and anecdotal information to provide a “best guess” at where the company is vulnerable. Pinkerton implements a proprietary and analytical approach using data science and advanced technologies, such as Artificial Intelligence, to identify, forecast, and mitigate total risk. The result is a comprehensive risk profile from which business decisions can be made, and made more confidently.

The concept of using data to forecast many business trends is not new. However, applying that methodology to risk management so that data-driven decisions about mitigation can be made is another way Pinkerton is staying at the forefront of the industry.

Using Data to Understand Your Total Risk Profile

Your organization’s total risk is comprised of structural and variable risk. Structural risk elements impact every company, economy wide. These risks are out of your control and are part of doing business. However, variable risks are based on the individual behaviors and decisions that your organization makes every day. For example, a company chooses to open a facility in a region known for political turmoil. That variable risk would be assessed and included as part of the company’s Risk Profile.

As the name implies, though, variable risk is not the same for every company nor every decision made. The ability to forecast what the business impact could be based on the risks involved with each company-specific decision is where our Applied Risk Science methodology returns great value for a company. Data from a variety of public sources along with Pinkerton’s knowledge base provides a comprehensive look at each situation, the risks, and the potential business impacts.

Calculating Risk to Gain a Comprehensive Perspective

  • Threat
  • risk equation x
  • Probability
  • risk equation x
  • Impact
  • risk equation =
  • Risk

Risk Quadrant Correlations

Risks are not independent; they are interconnected. While risk management and security were once considered a silo within an organization, continuing to maintain that way of thinking can be detrimental. A data-driven intelligence approach to business risk is supported by strong, positive correlations between quadrants of risk. Statistical analysis has shown that an increase in business risk along one dimension produces an analogous increase in risk along other dimensions.

Pinkerton uses Applied Risk Science to illustrate exactly how risks and security threats are more than just binary events. They are evolving and interrelated situations with numerous implications, complications, and consequences—both inside and outside of your business.

Risk Correlation Chart 1

Risk Correlation Chart 2

These charts show that as risks rise in one quadrant, they impact risks in another. If, for an example, a company decides it will open a warehouse facility in a region prone to hurricanes, that will mean a higher level of Hazard and Event Risks for the company. This, then, increases the risk of business disruptions and infrastructure damage (Operational and Physical Risks). But that alone does not tell the whole story. Data must be collected and analyzed in order to determine the likelihood the company’s new facility will be directly hit by a hurricane and what the impact to the bottom line could be. The decision then can be made as to what level of mitigation will be put into place and what level of risk the company is willing to accept.

With our Applied Risk Science approach, Pinkerton provides new levels of assessment, forecasting and comprehensive services that help you achieve your business goals while mitigating risks throughout your enterprise.

To find out where your business is at risk, fill out the form below.

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