Big Data
a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools
Smart Product
An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to fu...
Big Data
a collection of large, complex data sets, including
structured and unstructured data, which cannot be
analyzed using traditional database methods and tools
Smart Product
An innovative item that uses sensors; wireless sensor
networks; and data collection, transmission, and analysis
to further enable the item to be faster, more useful, or
otherwise improved.
Internet of Things
describes a system in which everyday objects are
connected to the internet and in turn are able to
communicate information throughout an interconnected
system
Cloud Computing
the practice of using a network of remote servers hosted
on the Internet to store, manage, and process data, rather
than a local server or a personal computer.
Blockchain
A digital ledger in which transactions made in bitcoin or
another cryptocurrency are recorded chronologically and
publicly
Telematics
The use of technological devices in vehicles with wireless
communication and GPS tracking that transmit data to
,businesses or government agencies; some return
information for the driver.
Risk Appetite
The degree of uncertainty an entity is willing to take on, in
anticipation of a reward.
Value at Risk (VaR)
A technique to quantify financial risk by measuring the
likelihood of losing more than a specific dollar amount over
a specific period of time.
Cost of Risk
The total cost incurred by an organization because of the
possibility of accidental loss.
Risk Exposure
An aggregate measure of the potential impact of all risks
at any given point in time in a project, program, or
portfolio.
Volatility
Indicates how much and how quickly the value of an
investment, market, or market sector changes.
likelihood
probability
consequence
the result of an action
Time Horizon
the intended duration of a plan
Correlation
A measure of the extent to which two factors vary
together, and thus of how well either factor predicts the
other.
Pure Risk
A chance of loss or no loss, but no chance of gain.
, Speculative Risk
Chance of loss or gain
Subjective Risk
The perceived amount of risk based on an individual's or
organization's opinion.
Objective Risk
The measurable variation in uncertain outcomes based on
facts and data.
diversifiable risk
A risk that affects only some individuals, businesses, or
small groups.
nondiversifiable risk
a risk that affects the entire economy or large numbers of
persons or groups within the economy
systemic risk
The potential for a major disruption in the function of an
entire market or financial system.
market risk
risk that affects all companies in the stock market
Liquidity Risk
The risk that an asset cannot be sold on short notice
without incurring a loss
Hazard risk
arises from property, liability, or personnel loss exposures.
Operational Risk
arises from people, processes, systems, or controls
financial risk
arises from the effect of market forces on financial assets
or liabilities
Strategic Risk
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