20th
November
2008
Predigy is a technology originally developed by Intelligent Results (founded in 2001) that was acquired by First Data in 2007. It was originally focused on the military (particularly on the analysis of unstructured data) but has subsequently moved into commercial applications. Predigy is now a decisioning platform with some applications in banking, collections, telecommunications and [...]
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posted by James Taylor in News |
22nd
October
2008
Graham Hill wrote a piece on Evidence-based CRM that focused on evidence-based CRM programs and it made me think about evidence-based CRM processes.
To me, evidence-based CRM means customer relationships, and thus customer treatments, that are based on evidence (data) and not judgment, hope, guesswork etc. It means
making offers that you have evidence this customer will [...]
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posted by James Taylor in Analytics, Data Mining, Decision Management |
23rd
September
2008
Jeff Bernstein of Strategem Portfolio Services gave an overview of the latest developments in collections. Jeff’s company has a product called Strategy Director (about which I blogged before). Jeff does a lot of work with collections groups and all too often sees a failure to implement analytics even where those analytic models are being developed [...]
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posted by James Taylor in Analytics, Business Rules |
22nd
September
2008
Delivering the best value proposition using segmentation is a multi-step journey with 6 main steps and some critical differences from other analytic approaches:
Define Segmentation Objectives
The first step – deciding why to build a segmentation scheme – is important but often overlooked. Reasons may include declining financial performance, changes in strategy or market trends – the [...]
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posted by James Taylor in Analytics, Data Mining |
24th
July
2008
I saw a post today on medical credit scoring that made me think I should post something about how credit scoring can be used in healthcare. Now saying that, of course, makes everyone nervous – are we talking about refusing people treatment because of their credit score? Why should financial questions like credit worthiness have [...]
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posted by James Taylor in Analytics, Decision Management |
1st
July
2008
One of the things I like to do on the blog is bring attention to those companies applying the principles of Enterprise Decision Management to deliver useful, smart enough systems. I recently came across Strategy DirectorTM from Stratagem Portfolio Services. This uses EDM to deliver analytics and strategy support for collections.
The product is built on [...]
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posted by James Taylor in Decision Management, Product News |
30th
April
2008
Ted Iacobuzio of TowerGroup gave the closing keynote, expanding on the survey results Fair Isaac announced today. More than 100 of the InterACT attendees took the survey – clearly this is top of mind. Some highlights:
Lenders appreciate the need for integrated customer information and multi-product decisioning
Lenders are not all at the same speed in implementation
Respondents [...]
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posted by James Taylor in Analytics, Decision Management, Optimization |
30th
April
2008
A collections session next with folks from Adeptra, Fair Isaac and GE Money talking about GE’s vision for virtual collections. The collections environment is extremely bad this year with massive growth in the need for collection agents. Delinquencies are up, problems are up, consumers are stressed. Scores are worsening (credit profiles are worse), payments are [...]
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posted by James Taylor in Analytics, Business Rules |
8th
February
2008
Last post in my series today – how to prioritize your use of EDM in a recession. As with any effort to prioritize EDM, the first thing to do is identify the decisions that make the difference. This means finding the micro decisions that are often hidden in your processes as well as correctly identifying [...]
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posted by James Taylor in Analytics, Business Rules, Decision Management |
4th
February
2008
First post in my series of posts on using EDM to thrive in a recession. Let’s start with the easy stuff – companies always look to reduce and control business costs in a recession so how can EDM help you do this?
One of the costs many businesses carry, almost without thinking, is a certain level [...]
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posted by James Taylor in Analytics, Business Rules, Data Mining, Decision Management, Strategy |