Political Risk Data
The Ultimate Guide to Political Risk Data 2021
What is Political Risk Data?
Political risk data is information regarding the current political situation in a given area - either region, country, or cross-border supply chain. Political risks include anything which pose a threat to an individual or business, such as war, terrorism, political violence, piracy and government restrictions. Political risk data is used to gauge this threat and benchmark risk against reward so that businesses can make the right decsions for their company and employees.
How is Political Risk Data collected?
Political risk data providers use proprietary risk assessment algorithms to collect risk signals and generate a score corresponding to overall political risk. These signals are compiled using web scraping tools and machine learning (ML) which ‘listen’ to millions of news outlets for reports relevant to political risk. Political risk data is also gathered from sources which aren’t publicly-available, such as official government records about crime and incidents. For example, political risk data providers consult maritime shipping reports to inform transportation and haulage companies of potential risk of piracy or maritime conflict.
What are the attributes of Political Risk Data?
Policial risk datasets can be divided so that they display different elements of risk, for example financial, to operational, to safety. Political risk data can also be used for regional-specific analytics. For example, political risk data providers can supply political intelligence with national, subnational, or international coverage. Poliical risk datas is usually delivered in the form of bulk admin reports via email or Rest API.
How is Political Risk Data used?
Although political risk data is primarily used by businesses, a political risk dataset can be applied to a range of use cases, including:
Logisitics - For transportation, shipping and haulage companies, it’s essential that they can guarantee safe travel for their employees and stock. Political risk data enables logistics companies roll out land and maritime tracking, piracy detection, and cross-border conflict. This allows them to plan transport routes based on risk mitigation.
Supply chain and production management - Like logisitics, it’s important for businesses to ensure that their employees and goods can get from A to B safely. Political risk data allows businesses to foresee any disruptions in production and supply chain flow, which can be factored into business operations and strategies.
Due diligence - For business owners operating overseas, they may be required to include political risk in their due diligence reports. Political risk data enables them to produce thorough and data-driven due diligence reports.
Investing - Investors use political risk data to identify potential security or reputation risks attached to a given portfolio. To invest wisely, they use political risk data for risk modelling and predictive analytics to assess whether a stock’s value will be affected by political occurences.
How can a user assess the quality of Political Risk Data?
There are several quality aspects which a political risk data provider must uphold for their political risk datasets to be considered high-quality:
Timelieness - Political risk data must reflect the situation on-the-ground for the area in question for the user to assess risk accurately and reliably. Outdated information is at best useless, at worst dangerous. This means that political risk datasets should be updated regularly, in real-time if possible, so that the user can evaluate the risk in the area at present and act accordingly.
Impartiality - To be reliable, political data cannot be skewed by partisan sources. It’s not enough for political risk data providers to just scrape from news sites, which are potentially politcally-biased. The best political risk data suppliers will collect intelligence from a range of sources, including verified first-hand accounts, to build accurate an picture of the political situation and calcuate risk scores based on the status quo.
Who are the best Political Risk Data providers?
Finding the right Political Risk Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Political Risk Data providers that you might want to buy Political Risk Data from are MBI Geodata, ScaleCampaign, Subpico, MariTrace, and IDMerit.
Where can I buy Political Risk Data?
Data providers and vendors listed on Datarade sell Political Risk Data products and samples. Popular Political Risk Data products and datasets available on our platform are MBI Geodata - Political Risk Index on all countries in the world by MBI Geodata, Subpico Cyber Attack Risk Country Rating Data (Global Data Coverage) by Subpico, and MariTrace Vessel Piracy Risk Assessment Data (global route analysis) by MariTrace.
How can I get Political Risk Data?
You can get Political Risk Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Political Risk Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Political Risk Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Political Risk Data?
Political Risk Data is similar to Voter Data, Campaign & Election Data, Fundraising & Donor Data, and Government & Congressional Data. These data categories are commonly used for Risk Mitigation and Political Risk Data analytics.