- Which types of weather could damage my business the most?
- How high is the measured weather risk in Euros?
- How do I most effectively plan my personnel deployment or stock of inventory?
Weather risk assessment or management is a field of operational risk management, which has come increasingly into focus due to increasing weather and climate variability. This risk can cancel out up to 30% of the sale returns for commercial enterprises, and for enterprises whose sales depend upon or are influenced by the weather, even more.
With the WEDDA® Toolbox (WEather Driven Demand Analysis), the research group Weather and Climate Risk Management offers:
- Detailed, location-based weather risk analyses
- Creation of weather-adjusted performance indicators, for example, on a weekly or monthly basis
- Quantification of risks using financial ratios
- 5- day forecasts, for example, of sales or costumer number on the basis of weather forecasts and calendar events to allow better planning (stock of goods, personnel employment) for leisure businesses
- Consulting on hedging strategies within and outside of the company with reference to identified weather and climate risks