I have thought this question because I taught risk and contingency management already for many years in China, Australia and PNG.
This is also the reason why I have been editing Special Issue on Big Data Driven Risk and Contingency Management (BRCM 2017) with Prof Ken Strang.
Reading is thinking, writing is critical thinking, publishing is systematic thinking.
Please tell me what you thinking about it.
Dear Zhaohao Sun,
I found intersting article and sent to you.
Regards, Shafagat
A risk contingency is prepared in advance for the possibility that some risks will not be managed successfully, while risk is managed by the process of identifying and proactively responding to potential hiccups. In these there are various parameters which contribute towards an end result, formulated through contributing algorithms.
Hence in order to predict a successful risk contingency, big data is very vital.
Related to Financial area:
https://medium.com/cyber-tales/big-data-and-risk-management-in-financial-markets-part-i-eed4e245f3db
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