and heightened risks looming on the horizon could derail the global recovery. Much of the growth in recent
phenomena such as competitiveness or global risks The Global Competitiveness Report 2014†2015 could not have been put together without the thought
in key advanced economies remains a tangible risk that could derail recovery because real interest rates may
The risks to the global economic outlook remain very real. Past measures, mainly based on expansionary monetary policies, have helped to
monitors key trends, identifies global risks, charts relationships addresses gaps in knowledge and recommends ways to address
assessment of risk is therefore a key ingredient of a sound financial market Business investment is also critical to productivity
Yet important downside risks remain: although inflation has been coming down from the high rates of the past two years thanks to prudent
across advanced economies and renewed risks for emerging economies, the current edition of the Report
about the risks related to unsustainable resource and environmental management†the world is not moving toward a more sustainable path and concrete results are
become more concerned about reputational risks. 9 Consequently, the business sector has started to take a keener interest in environmental issues than it did
environmental risk (since 2010, the respondents of the World Economic Forum†s Global Risks Perceptions Survey consider
environmental risks both to be more likely to happen and to have greater impact), 8 the increase in the number and
efficacy of environmental regulations is welcome and timely The drivers for this increase differ across the world.
with energy costs, reputational risks, and difficulties they confront in continuing to expand their capacity†are
investments and entrepreneurial risk, which can in turn translate into the creation of new jobs and innovative
indicators helps to identify possible areas of risk and the  2014 World Economic Forum
employment to poverty risk. The existence of some social programs and the Family Welfare Institute has not
reputational risk, see http://www. scjohnson. com/en/commitment /focus on/greengauge. aspx 10 As reported by nongovernmental organizations, such as the
Global Risks 2014. Ninth Edition. Geneva: World Economic Forum. Available at http://www3. weforum. org/docs/WEF
outreach for both competitiveness and risks reports. Ms Browne also oversees the process of implementing the
and the Global Risks report. Prior to joining the World Economic Forum, she worked in the Division of Country
competitiveness and global risks and is lead author or editor of a number of regional and topical reports and
the Global Risks report series. Before joining The Global Competitiveness and Benchmarking Network, Dr Drzeniek
Risks report. Prior to joining the Forum, she worked for an economic policy consultancy in the United kingdom
Potential risks going forward concern the possible tightening of financial conditions that may follow a normalization of the monetary policy in the United states
Rewards and Risks of Big data Beã at Bilbao-Osorio, Soumitra Dutta, and Bruno Lanvin, Editors
Rewards and Risks of Big data Beã at Bilbao-Osorio, World Economic Forum Soumitra Dutta, Cornell University
and Risks of Big data 1. 1 The Networked Readiness Index 2014: 3 Benchmarking ICT Uptake in a World
Balancing the Risks and 53 Rewards of Data-Driven Public Policy Alex Pentland (MIT 1. 5 Managing the Risks and Rewards 61
of Big data Matt Quinn and Chris Taylor (TIBCO 1. 6 Rebalancing Socioeconomic 67 Asymmetry in a Data-Driven Economy
and risks accruing from big data, an unprecedented phenomenon in terms of the volume, velocity, and variety of sources of the creation
3) balancing the risks and rewards of big data from a public policy perspective;(4) managing these risks and
rewards;( (5) rebalancing socioeconomic asymmetry in a data-driven economy;(6) the role of regulation and trust
Balancing the Risks and Rewards of Data-Driven Public Policy Alex â€oesandy†Pentland from the Massachusetts Institute
helps minimize the risk of unauthorized information leakage 3. Systems controlled by partner organizations, and
Managing the Risks and Rewards of Big data In Chapter 1. 5.,Matt Quinn and Chris Taylor from TIBCO
for example, but at the same time, big data brings risks that require balancing those benefits against privacy concerns raised by the potentially unsettling correlation
risks and rewards Rebalancing Socioeconomic Asymmetry in a Data-Driven Economy Chapter 1. 6, contributed by Peter Haynes of the
and Rewards and Risks of Big data  2014 World Economic Forum  2014 World Economic Forum
the risk of losing competitive advantage vis-Ã-vis other countries Policymakers must therefore •formulate a vision for the usage of data consistent
Risks and Rewards of Data-Driven Public Policy ALEX PENTLAND MIT In June 2013, massive US surveillance of phone
the risks and the rewards of this new age of big data address policy issues in this area,
The risk of deploying this sort of data-driven policy and regulation comes from the danger of putting so
Balancing the Risks and Rewards of Data-Driven Public Policy 54 The Global Information technology Report 2014
Balancing the Risks and Rewards of Data-Driven Public Policy  2014 World Economic Forum
or that help citizens reduce their risk of catching the flu The work of these 90 research groups also
Balancing the Risks and Rewards of Data-Driven Public Policy 56 The Global Information technology Report 2014
without the work of entering data by hand or the risks associated with sharing through current social media
A major risk of deploying data-driven policies and regulations comes from the danger of putting so much
Balancing the Risks and Rewards of Data-Driven Public Policy  2014 World Economic Forum
and helps to minimize the risk of unauthorized information leakage by providing the minimum amount of information required
Balancing the Risks and Rewards of Data-Driven Public Policy 58 The Global Information technology Report 2014
Balancing the Risks and Rewards of Data-Driven Public Policy  2014 World Economic Forum
Managing the Risks and Rewards of Big data MATT QUINN CHRIS TAYLOR TIBCO One of the biggest challenges of the term big data is
RISKS AND REWARDS Digitization itself is not new, but the maturation and availability of the Internet;
It is in those extremes that the risks and rewards of big data are decided THREE KEY BIG DATA TRENDS
risks and rewards are emerging. First and foremost big data leverages previously untapped data sources Those sources are of several types.
the opportunities and risks represented by these new sources. Automated systems that manage big data ecosystems cannot be developed around rigid schemas
Managing the Risks and Rewards of Big data 62 The Global Information technology Report 2014 Â 2014 World Economic Forum
Managing the Risks and Rewards of Big data  2014 World Economic Forum data†not with the goal of having a larger dataset, but
the risk associated with the decision. There is a broad spectrum of judgments that covers small, incremental
Many of the risks and rewards of big data are coupled tightly to the use of all of those data.
Managing the Risks and Rewards of Big data 64 The Global Information technology Report 2014 Â 2014 World Economic Forum
while mitigating risks is entirely a matter of data systems sophistication. This section will explore three examples that demonstrate the
carrier more competitive and reducing the risk of negotiating and accepting poor contracts. Without the
Although the rewards are clear, a risk remains in gaining the customer†s favor while requiring access to
Managing the Risks and Rewards of Big data  2014 World Economic Forum ideal way to gain that access
customer, mitigating the risk of a brand being perceived as stalking the customer or invading their privacy
MITIGATING THE RISKS Managing the three key trends of leveraging previously untapped data sources, using automation wherever
mitigating its risks. Accomplishing these three objectives requires successfully meeting big data†s two main
of how well its risks are managed. Truly expert handling of big data brings the reward of being able to react
balance the risks and rewards of big data†especially as big data moves from low impact â€oeexperiments†to driving
Managing the Risks and Rewards of Big data 66 The Global Information technology Report 2014 Â 2014 World Economic Forum
while minimizing risks and harms to individuals and enterprises globally. Existing regulatory approaches that are based on the principles
is how little we actually know about it†its potential risks and rewards, as well as its implications for individuals
quo to identify risks and opportunities. They should consider implementing a privacy-by design mentality to avoid unnecessary costs
their participation as well as potential privacy risks. For this reason, the legislative considerations for data collection
•Finance functions (such as finance, risk, and treasury) can use big data for intraday liquidity management, providing real-time monitoring of
supported credit risk assessments that factor in hundreds or even thousands of indicators •Supply chain and procurement can use big data
Risk/security R&d Procurement Supply chain management IT Operations, real estate planning Regulatory compliance Legal Human resources
and marketing to risk management and audits, from analyzing crop and seed production to fan listening
it has developed in house both for its risk management business and for gathering data it sells to its clients.
various business risks and adjust audit coverage to the areas that pose the greatest risks.
At the same time, it reduces the time spent on auditing by about 15 percent •A British multinational music recording and publishing
dives deeper into the rewards and risks that derive from the advent of big data. In addition, the Report includes detailed profiles for the 148 economies covered
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