Assignment 1 - Embracing Risktech Flashcards
Big data
Sets of data that are too large to be gathered and analyzed by traditional methods.
Smart product
An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved.
Internet of Things (IoT)
A network of objects that transmit data to and from each other without human interaction.
Cloud computing
Information, technology, and storage services contractually provided from remote locations, through the internet or another network, without a direct server connection.
Blockchain
A distributed digital ledger that facilitates secure transactions without the need for a third party.
Telematics
A device that measures acceleration, motion, and tilt.
Ergonomics
The science of designing work space and equipment based on the needs of the people who use the work space and equipment.
Risk management framework
A foundation for applying the risk management process throughout the organization.
Risk criteria
Information used as a basis for measuring the significance of a risk.
Pure risk
A chance of loss or no loss, but no chance of gain.
Credit risk
The risk that customers or other creditors will fail to make promised payments as they come due.
Objective risk
The measurable variation in uncertain outcomes based on facts and data.
Exposure
Any condition that presents a possibility of gain or loss, whether or not an actual loss occurs.
Consequences
The effects, positive or negative, of an occurrence.
Telematics
The use of technological devices in vehicles with wireless communication and GPS tracking that transmit data to businesses or government agencies; some return information for the driver.
