A cloud-based risk assessment service collects industrial data from multiple relevant and connected sources for storage and analysis on a cloud platform. The service analyzes gathered data from internal and external sources and customers across different industries to identify operational trends as a function of industry type, application type, equipment in use, device configurations, and other such variables. Based on the analysis, the risk assessment service identifies risk factors inherent in a customer's particular industrial enterprise. The cloud-based system generates a risk profile for the customer that identifies the determined risks and recommends risk aversion strategies based on the customer's specific profile, compared to industry standards, product information, internal business expectations, external regulatory bodies, and/or past performance. Risk profiles are tailored for both plant-level users and business-level users to provide intelligent strategies to improve performance and prevent avoidable losses.