Analytics beyond patterns
All successful Financial Service providers are exploring analytics to manage business. An important aspect of analytics is to use historic patterns to determine future trends. Thus the knowledge of fraud patterns can be used to strengthen fraud management.
Regulations changing risk analytics needs
Maintaining an organization or individual risk score card was once confined to larger organizations. Bureaus filled the gap by offering a unified approach to scoring based on behavioral attributes, which appealed to smaller firms. The evolution of business intelligence and analytical tools has helped smaller organizations adopt analytical insights and risk-grid-based pricing to… Read the rest
What will the future bring in terms of HR technology? Jason Averbrook, co-founder and CEO of Knowledge Infusion, and Naomi Lee Bloom, managing partner, Bloom & Wallace, attempted to define that future during the second annual “Great Technology Debate” at the HR Technology Conference and Exposition in Las Vegas on October 4.
Here are some nuggets from the lively 90-minute discussion. N.B: Their sage insights are universal, applying to technology in general.
About HR data and analytics:
Bloom: “We have a bunch of sludge sitting at the bottom of our databases. HR has postponed the inevitable. But now is… Read the rest
It is a Formula One Grand Prix. Crew members are crunching data from the sensors attached to the car. In a single season, a team will burn 200,000 liters of fuel in testing to identify 50 slightly different blends of fuel additives. Subject to predictive and simulated models, the crew should be able to give the right blend of power boosting additives to touch the finish line!
Similarly, your banker, insurer, telecom provider or retail store could be tracking your buying behavior to offer you an optimal product/service mix. With Twitter, Facebook, LinkedIn, blogs and other social media being tracked,… Read the rest
Beans, blueberries, broccoli, green tea and Omega 3-rich fish are all hailed as health super foods. In my book, the competitive commercial sector’s super food is knowledge process outsourcing (KPO). And I’m not talking research here – although research certainly has its value – but analytics, predictive analytics. An increasing number of companies are using it to identify risks and opportunities, determine appropriate price points and ultimately gain a leg up against their competitors.
One highly-publicized predictive analytics initiative was Overstock.com’s May 2011 launch of a competition wherein the team that can improve its recommendation engine by 10 percent or… Read the rest
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