Two new Gartner reports, “Hype Cycle for Data and Analytics Governance and Master Data Management, 2019” and “Hype Cycle for Risk Management, 2019”, name RiskLens as a Sample Vendor in the technology solutions category of financial data risk assessment or FinDRA. Gartner gave the category “Transformational” Benefit Rating.
We feel the consultancy’s Hype Cycle reports are carefully studied by technology buyers looking to find their way through the vast array of solution on the market.
RiskLens and FinDRA
Gartner identifies FinDRA as “a method to prioritize financial investment opportunities for data based upon monetization options against business risks.”
Running a FinDRA program involves identifying key data assets, assessing their potential values and associated risks, and setting investment strategy for data security and data management that can be carried out with budgets defensible at the board level. Gartner states, “Digital business organizations have an opportunity to use FinDRA as a repeatable, consistent methodology to enable direct collaboration between CISOs and other business leaders such as the CDO to create data security and data management strategies with Board-level approval of defensible budgets and investments.”
In our view, the RiskLens Platform meets those requirements. Built on FAIR, the international standard for cyber risk quantification, RiskLens enables organizations to see cyber risk in financial terms and is routinely used today for assessing the value of data assets and the ROI of security investments and setting budgets defensible in the business terms that boards and senior executives demand – the financial language that’s generated by cyber risk quantification.
RiskLens and Integrated Risk Management
We believe RiskLens is right in line with the IRM movement — indeed, the platform is integrated with three IRM vendors (RSA, Galvanize/Rsam and ServiceNow).
Note: If you’re wondering why RiskLens appears in multiple sectors of the risk landscape – that’s an indication of the flexibility and broad applicability of our platform and of risk quantification.
RiskLens and FAIR Training
RiskLens is the licensed trainer in FAIR for the FAIR Institute. The RiskLens Academy has trained hundreds in recent months and we receive dozens of inquiries daily on training.
For ideas on how RiskLens can help your organization launch a FinDRA strategy, or bring balance and alignment to your risk reporting and risk management programs, contact us.
Gartner, Hype Cycle for Data and Analytics Governance and Master Data Management, 2019, Saul Judah, 10 July 2019.
Gartner, Hype Cycle for Risk Management, 2019, John A. Wheeler, 24 July 2019.
Please note this disclaimer from Gartner:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.