The Power of Data Visualization and Data Analytics
Outsourcing to vendors, suppliers and third parties generates data that reflects how outsourcing activities impact corporate strategic objectives. Because risk data captures the effectiveness of vendor, supplier and third-party risk programs, risk leaders can leverage the power of data to make decisions that maximize the benefits of outsourcing while minimizing the risks. In order to understand the data generated by vendor, supplier and third-party risk activities, risk leaders should utilize data visualization tools such as Tableau and Power BI to gain insight on key trends and patterns that measure the effectiveness of their decisions and strategies to control vendor, supplier and third-party risks.
Defining Data Visualization
Data visualization is the practice of creating graphical representations such as charts, maps and graphs in order to understand trends and patterns associated with key business activities. By capturing key trends and patterns, data visualization can enable business leaders to make data-driven decisions that benefit the organization. For vendor, supplier and third-party risk management experts, utilizing data visualization tools such as Tableau and Power BI allows them to create powerful dashboards that capture key performance indicators (KPIs) and key risk indicators (KRIs) that reveal whether outsourcing activities fit within the established risk appetite or expose the organization to risks that threaten its strategic objectives.
Coming Soon: Catherine Tibaaga Data Analytics and Data Visualization Projects
-Creating a Sample Vendor Risk Management Tableau Dashboard
Live Date: December 31st, 2023
Purpose: To capture the power of utilizing data visualization tools for tracking the performance of vendor, supplier and third-party risk management programs, I will be creating a Tableau dashboard using Tableau Public that captures important trends and patterns associated with a sample vendor risk program.
-Creating a Sample Vendor Management Tableau Dashboard
Live Date: December 31st, 2023
Purpose: To capture the power of utilizing data visualization tools for tracking the performance of vendor management programs, I will be creating a Tableau dashboard using Tableau Public that captures important trends and patterns associated with a sample vendor management program.