Leveraging advanced financial analytics for predictive risk management and strategic decision-making in global markets

Oyewale Oyedokun 1, *, Somto Emmanuel Ewim 2 and Oluwaseun Peter Oyeyemi 3

1 Independent Researcher, Dallas Texas, USA.
2 Independent Researcher, Lagos, Nigeria.
3 British American Tobacco, UK.
 
Review Article
Global Journal of Research in Multidisciplinary Studies, 2024, 02(02), 016–026.
Article DOI: 10.58175/gjrms.2024.2.2.0051
Publication history: 
Received 26 August 2024; revised on 11 October 2024; accepted on 14 October 2024
 
Abstract: 
This paper explores the critical role of advanced financial analytics in enhancing predictive risk management and strategic decision-making within global markets. Organizations can effectively identify, assess, and mitigate risks by leveraging cutting-edge technologies such as machine learning, big data analytics, and predictive modeling. The paper analyzes how predictive analytics informs corporate strategy in volatile markets and highlights real-world applications across various sectors. It also examines the challenges organizations face when adopting financial analytics, including data privacy concerns, integration issues, and skill gaps, while discussing the opportunities that arise from overcoming these obstacles. Finally, the paper offers strategic recommendations for organizations seeking to maximize the benefits of financial analytics, emphasizing the need for robust data security, workforce upskilling, and effective data governance. These insights aim to help businesses leverage financial analytics for competitive advantage, improved decision-making, and enhanced risk management.
 
Keywords: 
Advanced financial analytics; Predictive risk management; Machine learning; Big data analytics; Strategic decision-making; Global markets
 
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