JT on EDM

I got a briefing from ID Analytics recently – mostly to catch up on their new service for consumers My ID Score (https://myidscore.com).
ID Analytics has historically been focused on B2B services – helping companies identify applications that are potentially fraudulent. They have an ID Network that collects information from 6 of the top 10 credit [...]

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Last week I posted a couple of times about my impressions from the SAS Global Forum. In one post I said that “SAS customers talk about the great results they get when they put their predictive analytics to work in operational systems” so I thought I should expand on that a little, using [...]

Syndicated from Smart Data Collective
Khosrow Hassibi of KXEN and Will Tangalos of Wells Fargo presented together on the challenges of predictive analytics in the real world and on Wells Fargo as an example of how some of these challenges can be met. Khosrow began with an overview of the basic predictive analytic tasks:

Understand the business [...]

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John Elder presented a collection of case studies to showcase the ROI of data mining. John started by making the point that many of his case studies had technical success but not business success – an interesting statistic. John sees three major ways that predictive analytics can help – streamlining, eliminating [...]

Joe McKendrick pointed me to a story on ABC News today -  ‘Good Morning America’ Gets Answers: Some Credit Card Companies Financially Profiling Customers. The story is worrying and has some good reporting in but, as usual, the analytics behind the whole thing are poorly described.
So, first things first. The headline gets us off on [...]

Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]

I got a quick overview of Savvion 7.5 this week. Savvion is one of the pure-play BPM vendors with customers in Telecommunications, Media, Financial Services and Manufacturing (along with some retail and healthcare). They released version 7.5 at the end of September.
Savvion has recently been investing in domain-specific vertical solutions built on their horizontal [...]

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

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 [...]

The use of analytics in business decisions, presented by one of InfoCentricity’s customers, was next. In many organizations modelers are busy building predictive models that they then throw over the wall to a business analyst. To bridge this gap you need a collaboration platform that allows modelers to do their thing while allowing business analysts [...]