A variety of approaches are used for identifying risks. The organization can identify risks as part of day-to-day activities such as budgeting, business planning, performance reviews, and meetings as considerations in the approval processes for new products and designs and in response to customer complaints, incidents, or financial losses. Identification activities integrated through the entity can be supplemented by additional targeted activities such as simple questionnaires, facilitated workshops, and interviews. The useful approaches for identifying different types of risks include cognitive computing, data tracking, interviews, key indicators, process analysis and workshops. Data tracking from past events can help predict future occurrences. While historical data typically is used in risk assessment—based on actual experience with severity—it can also be used to understand interdependencies and develop predictive and causal models. Therefore, Data tracking helps in identifying new and existing risks only. On the other hand emerging risk is a new or unforeseen risk that we haven't yet contemplated. Emerging risks are newly developing risks that cannot yet be fully assessed, further, emerging risks are marked by a high degree of uncertainty