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One of a risk manager’s primary goals is to control and, if possible, reduce the costs associated with various potential and realized liabilities for his employer. In addressing this challenge, a number of questions arise: Is my program performing well already, or is it doing poorly compared with similar programs? How should I spend limited resources for the greatest return? How do I publish the health of my program to my superiors? How do I persuade business partners within my organization to see the value of data and then pursue risk management initiatives? When used effectively, data analytics can help in answering these often complicated questions.

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