Does horizon scanning take up too much of your time? You want to know which emerging risks other organisations are reporting on, but don't have time to scroll through endless reports every time you're investigating a specific trend?
We've just launched our new Horizon Scanning Tool, an interactive database that uses AI to reduce the time risk leaders need to collate and interrogate external emerging risk data.
Watch this video to see how the Horizon Scanning Tool works:
What data does it include?
Publicly available data on reported emerging risks since 2019:
- 90+ company annual reports that mention emerging risks
- A growing source of external reports that mention emerging risks, such as:
- Consultancy reports
- Reports from insurers and reinsurers
- World Economic Forum and European Commission reports
With all this data in one place, you'll significantly reduce the time you need to gather and analyse external data on emerging risks.
How's the data categorised?
Using AI, the data is categorised into a 3-tier taxonomy:
This allows you to isolate specific trends in your sector and validate your own approach through referencing how other companies are reporting on that trend. You'll also be able to perform a gap analysis and identify your organisation's blind spots.
- First tier: PESTLE categories (e.g. Political)
- Second tier: Trends (e.g. Geopolitical tensions)
- Third tier: Risks (e.g. Brexit)
Get access to the Horizon Scanning Tool
This powerful tool has been developed for Risk Leadership Network members. In fact, it was our members (risk leaders at leading organisations worldwide) who asked us to produce this tool to help improve the effectiveness of their horizon scanning.
Request a free demo of the Horizon Scanning Tool and we'll discuss how you can get access, along with membership to the network.
How can I interrogate the data?
- Use the search function to track down any mention of your keyword (e.g. supply chain), and the trends associated with it.
- Analyse year-on-year trends through the category dashboards
- Filter the data sources to include just the sectors, specific companies, or external reports that you need for your analysis.
You'll be able to prepare for meetings and reports on niche topics in minutes, rather than needing hours of research to gather the relevant information. Megatrends analysis has never been so easy.
Can I see the original data?
Yes, all the sources are publicly available and you can navigate straight to them from our tool. In fact, the link in the tool allows you to jump straight to the page that mentions the emerging risk in the report.
You'll save hours of time searching around company and consultancy websites for relevant reports.
Please request a demo of the tool to see more of the tool in action and discuss how you can access it.
Horizon Scanning Tool in action
There are many ways to make the most of this tool, but here are pieces of analysis that we used data from the Horizon Scanning Tool to put together:
- Identify potential blind spots for high growth digital companies
In our deep dive into emerging risks and blind spots for high-growth digital companies, we mapped the emerging risks that were already on the radar of these companies (based on their interview responses), against the highest ranking emerging risks in the Horizon Scanning Tool - thereby identifying blind spots where there was limited cross-over.
- Compare the emerging risks with principal/material risks by sector
This analysis allowed us to identify trends by sector in the top emerging risks compared to the principal/material risks - ensuring that risk leaders are not missing key emerging risks that the rest of the sector already has on its radar.
Without the Horizon Scanning Tool, it would have taken weeks to compile the data from so many sources to provide this intelligence. But with this data at our fingertips, it drastically reduced the amount of time required to produce this analysis. Risk Leadership Network members, who have access to this tool, are able to make the same time savings in their own horizon scanning and analysis.
Get a free demo of the Horizon Scanning Tool
To find out more about how the Horizon Scanning Tool will save you time, identify blind spots, validate your emerging risk approach and help you keep on top of trends, request a demo of the Horizon Scanning Tool here.
The Horizon Scanning Tool is one of the many ways we support members of Risk Leadership Network with their risk priorities.