Advances in artificial intelligence (AI) and predictive analytics are using consumer scores to automate business decisions to predict things like risk and fraud. But concerns over fairness mean companies need to make scores transparent to consumers.
Consumer scoring summarizes relevant information about consumers based on past behaviors. It's influenced by the data collected from the web, mobile, and IoT devices that detail demographics, geographics information, and transaction history. Consumer scoring leverages complex data analytics to evaluate and apply metrics to consumers for automated business decisions.
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Global $243 Billion Big Data Market Trajectory & Analytics to 2027: Age of Analytics Provides
Amid the COVID-19 crisis, the global market for Big Data estimated at US$70.5 Billion in the year 2020, is projected to reach a revised size of US$243.4 Billion by 2027, growing at a CAGR of 19.4% over the analysis period 2020-2027.
Hardware, one of the segments analyzed in the report, is projected to record a 21.6% CAGR and reach US$148.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 15.1% CAGR for the next 7-year period.
Equifax Announces SVP of Product, Data & Analytics for Consumer Business
ATLANTA , Dec. 8, 2020 /PRNewswire/ -- Equifax (NYSE: EFX ) today announced the appointment of Richard (Rick) Eiel as the new Senior Vice President of Product, Data & Analytics for the Global Consumer Solutions (GCS) business unit.
In the newly created role, Eiel is charged with product strategy and innovation to better meet the evolving needs of Equifax consumers. He reports to Beverly Anderson , President of GCS.
"Product Innovation and strong analytic insight are critical to the growth of GCS and are key components of our business transformation," said Beverly Anderson , President of Global Consumer Solutions for Equifax. "Rick is the right leader to help leverage our cloud data and technology investments, and to drive new products and innovation that benefit our customers and consumers."
How Business Forecasting & Predictive Analytics Are Merging - Demand Planning
Business forecasting and predictive analytics are merging to leverage Big Data as a growth driver.
Predictive analytics does not have to be complicated and Demand Planners can learn these models and methods to drive business insight.
Organizational processes to support the application of predictive analytics insights are arguably a bigger challenge than the models.
"Predictive analytics is basically applications of machine learning for business problems", says Siegel. Machine learning learns from data to render prediction about each individual [thing being examined]." That individual thing can be a customer, product, machine, or any number of things.
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The Expanding Role of Predictive Analytics in Manufacturing | Manufacturing.net
Beyond maintenance, the AI-driven technology has evolved to offer solutions for quality control, downtime and operational efficiency throughout the plant floor and supply chain.
Labor shortage. Global competition. Increasing cost pressure. The urgent need to bring better products to market faster.
The manufacturing world has no shortage of challenges. The industry is waking up to the promise of AI and the adoption of advanced analytics applications such as anomaly detection, real-time quality monitoring, and supply chain optimization. Deloitte recently reported in a survey on manufacturing AI adoption that 93 percent of companies believe AI will be a crucial technology to drive growth and innovation in the sector.
Kitewheel Expands Journey Management Platform With Self-Service Analytics and Business
New embedded analytics capabilities will enable broader engagement with the business results delivered by journey management
Overall, this integration will provide faster time to insights and speed up the journey orchestration timeline. The platform generates user-friendly, comprehensive reports leveraging data from Kitewheel's Journey Discovery Analytics and Kitewheel Data Model solutions. This self-service model also allows Kitewheel clients to customize data visualizations and report types depending on the insights and level of detail needed.
Global $11.9 Billion Application Performance Management (APM) Market Trajectory & Analytics,
Amid the COVID-19 crisis, the global market for Application Performance Management (APM) estimated at US$5.7 Billion in the year 2020, is projected to reach a revised size of US$11.9 Billion by 2027, growing at a CAGR of 11.2% over the period 2020-2027.
Software, one of the segments analyzed in the report, is projected to record 10.6% CAGR and reach US$7.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Service segment is readjusted to a revised 12.1% CAGR for the next 7-year period.
SingleStore raises $80 million to accelerate data analytics with relational databases |
Relational database startup SingleStore (previously MemSQL ) closed an $80 million funding round today, bringing its total raised to $238 million. The San Francisco-based company plans to use the funds to increase its market presence; expand its engineering team in Portugal, Ukraine, and the U.S.; and grow its customer base internationally.
AI and machine learning models require fast databases like SingleStore's to perform at their peak. Organizations that lack the right technical components in their production pipelines run the risk of failure — according to IDC, 25% of brands already using machine learning report a 50% failure rate.
Happening on Twitter
Manufacturers can utilize predictive maintenance to minimize downtime by using sensors to monitor operational condi… https://t.co/w5H28dn6av stpiindia (from East Kidwai Nagar, New Delhi) Tue Dec 08 03:44:23 +0000 2020
Among thousands of kids tested for COVID-19, an upset stomach, loss of taste/smell, fever and headache were symptom… https://t.co/P9SQU8NIbx WebMD (from USA) Mon Dec 07 01:30:01 +0000 2020
"The worst case scenarios in our head, played out exactly," said @EFF — one of several civil liberties organization… https://t.co/QM1sDniYpq TB_Times (from St. Petersburg, Florida) Tue Dec 08 01:20:57 +0000 2020
They made this movie in 2006..... But showed the world in 2027.... All the women in the world had become infertile.… https://t.co/Dee8g2NZtu ZaidZamanHamid (from Pakistan) Sun Dec 06 19:41:29 +0000 2020
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