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Can software manage risks ?

Can Software manage risks ?

If the beating of a butterfly's wing in Sydney can produce a tornado in Miami, the existence of billions of butterflies prevents us from foreseeing when and where the next tornado will take place. And if we believe in our capacity to act on our future, there is then not one, but myriads of possible futures, depending on our choices, on that of our relatives and on laws which govern us. We nevertheless need scenarios, figures and facts to be able to manage risks, protect us and our close relations and make decisions for the future.

While we seem out of solutions, Insurance Companies not only evolves in this world of uncertainty, but manage to make money with it . They have statistics, tools and mathematical models to build their profitability.

We have implemented in our software parts of these models, such as "theory of games" and statistical algebra. It makes possible that our software compete with the best experts in risks management. It is thus thanks to it that our solutions can provide profitable solutions in risks management. So Yes, our software products can manage risks.

One situation, two points of view

Manage risks : depending on the point of view

Nevertheless, reasoning on a lot of instances does not change anything with the individual situations when risks occur.  It is thus an individual choice to evaluate if the risk requires or not an action, and which is the more appropriate mean to cope with this risk.

It is still necessary to get sufficient information in order to carry out our choice with full knowledge of the facts :  words of experts, or a "small, average or heavy" evaluated risk are not sufficient to evaluate our situation correctly.

In this field, the belief often takes the step over reality. For example, risk management is often perceived as expensive action plans for hypothetical benefit, whereas a great number of preventive action plans have a major effect with low investment from the company.

In any area we develop our software products, it offers functions that will enable you to choose your risk management policy :

  1. Translate actual facts as figures describing the future through its impact
  2. Alert on the underlying risks, announce areas of danger, propose viable solutions
  3. Present consequences in a comprehensive manner and  with directly usable figures
  4. Explain and propose solutions to decrease risks or to attenuate their impact
 

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