Volume 9 • Issue 2 • PP: 51-64 • 2023
Developing a Risk Management System with an Optimistic Predictive Approach and Business Decision-Making
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Risk Management is an important task that helps to monitor the business application to eliminate the political, financial, cultural, and social consequences. The organization's risk decision is affected by several characteristics, such as lack of accountability and risk decision-making. The difficulties are resolved by applying the Machine-Learning related Business Decision Making Approach (ML-BDMA). The created framework helps to reduce the difficulties in decision-making while managing the organization's risk. The Business Decision Making process works along with the Optimistic Predictive Techniques (OPT) that are used to identify the risk which leads to attaining the business objective. This process categorizes the risk according to the qualitative characteristics of business data. The system's effectiveness was evaluated using the experimental result in which the system ensures a 98.93% performance rate, 92.25% reliability rate, 93.47% authenticity rate, 91.11% risk management rate, and 97.77% development rate while making a business decision.
Keywords
References
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