The recommendation engine illustrates the logical flow as shown in Figure 5.1. Recommendation engines recommend strategies for risk mitigation and risk contingency.
Figure 5.1 Recommendation engine
Data Collection
Gathering risk data starts with the data collection process shown in Tables 5.1, 5.2, 5.3, and 5.4 (Hahn 2018; Elswick 2016; Phillips and Stawarski 2008).
Table 5.1 Risks dataset
|
Measure Risk Name |
Risk Category |
Risk Impact Score |
Risk Occurrence Probability |
Risk Priority Score |
|
Sales amount decrease |
Financial/competitive risk |
0.9 |
0.5 |
2 |
|
Inventory turnover decrease ... |
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