Crickette said university officials conducted campus-wide interviews to determine where to target dwindling funds for mitigating risks, adding that the questions didn’t “focus on what kept them up at night,” but rather probed for strategies that had proven useful.
“We don’t want to just create another list of things that could go wrong at UC,” she said. “We wanted to know what could go right.”
Computer-based risk management programs traditionally have relied heavily on a quantitative approach, whereas the IBM analytics system focuses on a qualitative approach that helps officials at a single campus manipulate data to find specific ways to minimize risks that could cost the campus millions.
“We now have the means—the processing power and analytics capabilities—to sift through the data and extract meaning in ways that previously were not possible,” said Bridget van Kralingen, general manager of IBM North America.
Crickette added: “They can target the key variables that influence outcomes and make changes to increase productive trends or intercede in operations that are having a negative impact.”