Read the ReputationUP Coach article. Through an updated list, you will learn about the most important reputation risk analysis tools.
What are risk analysis tools?
Risk analysis tools are software used to assess the level of risk associated with a company or individual.
Risk intelligence helps in decisive moments and facilitates avoiding large costs associated with crises.
Through these tools the user knows, in advance, which personal or corporate threats they are facing.
Faced by a risk, intervening quickly is essential.
Examples of risk analysis
The risk that a company may face, will depend on its sector.
Therefore, threats can present themselves in a digital, financial, political, commercial or economic field.
Let’s take as an example the risk that an investor can face when doing business with a multinational.
Said company needs new investors to develop future projects.
But, what is the financial situation of the company? Will the investor take risks, not knowing the economic status of the multinational? Would an investor lose a good chance of business because of mistrust?
This is when the risk analysis enters the scene.
Through monitoring, the investor can learn, beforehand, what is the financial situation of the company.
Once this thorough analysis is done, said investor will decide what is the best option to generate profit.
This is one example of many in which risk analysis can be presented as an early solution to a reputational crisis.
The effect of reputational risk analysis
The risk analysis process is equally applicable to a company.
Poor management or liquidity difficulties can lead to a financial crisis, but also a reputational crisis.
In the digital age, the problems that affect companies or individuals are reflected and increased in the network.
Online reputation has become an asset for companies, which they must protect with their daily actions.
Referring to the risk analysis, in order not to damage it, Due Diligence must be respected.
This concept refers to financial reputation, and is the research and preparation of documents, intended to reveal information needed to carry out a financial transaction.
ReputationUP Coach provides the ultimate solution to monitor the cyberspace of any business or country.
Its intelligence functions range from reputation monitoring to AML compliance.
With ReputationUP Coach, any user or company can carry out a risk analysis concerning their person or brand.
What are the top four strategies for dealing with risks?
The four main strategies for dealing with risk are:
- Avoid or remove: removing risk is only possible if it is minimal, and it doesn’t affect all areas of personal or business branding.
Avoiding risk is easy when you anticipate it and know the situation well, before facing a crisis.
Measuring risk is the only way to know, in advance, what will be the reaction of a consumer or voter to a brand, product, service, project, etc.
- Lessen impact: once one is deep in a crisis, it becomes more difficult to solve the situation. Constant monitoring is vital to know the progress of the crisis and decide if it is necessary to change the strategy.
- Transfer: the level of difficulty will mark the decision to stay with the internal team, or delegate the strategy to a team specialized in crisis resolution.
- Concede: it is the acknowledging strategy, when there is no possibility of solving the problem.
What is the most popular risk management tool?
ReputationUP Coach has curated the most comprehensive list with risk management tools, in the reputation field.
In this paragraph we’ll analyse the eight most important softwares to protect a personal or professional brand, and avoid a reputational crisis.
Brand 24 allows us to create a project, by company or brand, and carry out a following of each mention about the company.
Searches are executed through a list of keywords and they can be screened by interests.
The platform scans, in real time, the mentions on websites, social networks, videos, blogs, forums, etc.
A complete report details all the information about the sentiment about a person or brand.
Furthermore, it is possible to get instant notifications of negative mentions.
BrandMentions searches on blogs, review sites, social networks, web, competitors, etc.
The first step is to define the keyworks according to the company.
This tool shows the sentiment of users on each mention.
Lastly, results can be exported in a detailed report.
YouScan is a social media intelligence software, capable of recognising images.
Therefore, visual search is its main feature.
The Visual Insights feature detects logos, objects, scenes, activities and demographic information.
Scan the network to find mentions of the brand and achieve the best social impact.
Show the positive and negative feedback of the brand on the Internet.
It offers the possibility of filtering depending on the client’s needs.
Equally, the platform includes graphs and statistics showing the most common topics.
The Brand Grader
The Brand Grader is a free software, which only needs the company name and an email address.
Report discloses the influencers, principal sources, sentiment, mentions, location and social following.
This analysis is executed by tracking the keywords on the web.
Mention is a tool with which users can monitor the Internet.
This way, a brand or individual can find all the conversations online.
This platform monitors the web, forums, blogs, social networks, etc.
It allows you to configure alerts to know the exact moment in which the brand or person is mentioned.
Google Alerts is a tool that can be set up to send notifications to the user whenever the keywords are used.
The platform will notify via email every time there is a mention.
Any personal or corporate brand can use Google Alerts because it is free.
RepUP Monitoring Tool
RepUP Monitoring Tool is, undoubtedly, the best monitoring tool on the market.
It combines Big Data and Artificial Intelligence to scan what the network says about a corporate or personal brand.
The platform measures, in real time, the sentiment score of mentions and intercepts reputational crises.
The user can monitor the online reputation of the brand through advanced software, which measures multilingual data and key information to listen to what the network says about their business.
Reputation Score is another ReputationUP tool.
It measures the reputation score, through risk intelligence, global compliance, and web analytics.
It works, on the one hand, for a physical or legal entity. On the other hand, for digital entities.
The reputation score of the natural, legal or digital person is based on a global system (languages, countries, sources) and determines on a scale of -100% to + 100% the reputation value and the risk index.
Through Reputation Score, the entity’s relationships with the different subjects can be verified in accordance with codes of ethics and laws.
In the case of the physical or legal entity, Reputation Score provides accurate and certified information on twelve different crime categories.
The digital entity provides certified and accurate information from twelve digital categories.
Through this list, you have learned which are the most important risk analysis tools for reputation.
From this article we can draw the following conclusions:
- This software is used to evaluate the level of risk associated with a company or a person.
- Risk intelligence avoids large costs associated with crises.
- Threats can present themselves in a digital, financial, political, commercial or economic field.
- Through monitoring, investors can know, beforehand, what the financial situation of a company is.
- Poor management or liquidity difficulties can lead to a financial crisis, but also a reputational crisis.
RepUP Monitoring Tool and Reputation Score are the two most exhaustive tools of the market.
Personal or business brands can find out what is being said about them on the web in real time.
This way, they protect their online reputation and avoid a crisis.