Abstract :

The impact of climate change has made responsible risk management a major research topic during the past 20 years. In conjunction with societal problems that affect the economies and cultures in which they function, industrial risks can release dangerous pollutants into the natural world. Advances in information and communication technology, particularly big data analytics, can contribute to the creation of fresh perspectives that enable the detection of business risks whose operations are unstable and the implementation of remedial actions. Although risk management has been the subject of numerous research, there are few that examine the impact of BDA. This study strives to offer a big data analytic framework that integrates a pipeline of statistical testing, data visualization, and machine learning algorithms to interpret market information. The applicability of our framework in recognizing and managing risks is demonstrated through a case study of the global commodity market. Extensive proof-of-concept experimentations validated the efficiency and effectiveness of the argued framework by providing useful insights about market behavior, which can lead the decision-making process to get informed risk management.

Keywords :

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