In recent years Business Intelligence (BI)

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Application of Fuzzy Set Theory for Risk Assessment In our age safety, reliability and security are essential issues in modern engineering. Modern technical systems should meet technical, safety and environmental protection requirements. The risk can appear as personal injury or death, mission degradation, property technical damage or destruction. The risk is a measure of harm or loss associated with the human activity. It is the combination of the probability and the consequence of a specified hazard being realized. For decision making the experts need the opinions of other sciences, sometimes they have to consider moral questions. To make reliable decision, the risk of the given system or process should be known correctly. Fuzzy set theory is a relatively new mathematical tool to depict and model inaccuracy and uncertainty of the real world and human thinking. The paper and presentation will give a short overview of risk assessment and illustrates the possibility of use of proposed fuzzy set theory based method by a case study.