Consequently, we developed a “volatility matrix” which takes a systems approach to operationalizing driving volatility at different levels, trip-based volatility, location-based volatility, event-based volatility, and driver-based volatility. At the trip-level, the dynamics of driving regimes extracted from Basic Safety Messages transmitted between connected vehicles are analyzed at a microscopic level, and where the interactions between microscopic driving decisions and ecosystem of mapped local traffic states in close proximity surrounding the host vehicle are characterized. Another new idea relates to extending driving volatility to specific network locations, termed as “location-based volatility”. A new methodology is proposed for combining emerging connected vehicles data with traditional transportation data (crash, traffic, road geometrics data, etc.) to identify roadway locations where traffic crashes are waiting to happen. The idea of event-based and driver-based volatility introduces the notion that volatility in longitudinal and lateral directions prior to involvement in safety critical events (crashes/near-crashes) can be a leading indicator of proactive safety.