With COVID-19, it has become clear that ideas and assumptions that worked in the past will no longer apply now and in the future. The region is expected to face its deepest economic slowdown since the 1970s due to COVID-19. Businesses might be wondering what to do next.
One of the many areas where machine learning has made a large difference for enterprise business is in the ability to make accurate predictions in the realm of fraud detection. Knowing that a transaction is fraudulent is a critical requirement for financial services companies, but knowing that a transaction that was flagged by a rules-based system as fraudulent is a valid transaction, can be equally important.
Well, it is International Fraud Awareness Week, focused on promoting fraud prevention and education. A fantastic initiative! Maybe I am naïve but I feel a bit sad that there is a need for “fraud week”. The insurance industry has a long and intimate relationship with fraud in many different ways. Insurance fraud can take place at a process or business function level, most notably in claims or underwriting.
As a specialized and mature form of embedded analytics, contextual analytics is a game-changer if you're a software vendor looking to further augment your customers’ user experience, without requiring developers to completely reengineer your offering. Contextual analytics blends the data your users need for decision-making right at the point of their daily work, directly inside the interface and transaction flow of your software.
This is part of our series of blog posts on recent enhancements to Impala. The entire collection is available here.
One of the things that I'm really passionate about is great design. Design is important in all aspects of our lives and it's really important for analytics as well. When you're the recipient of bad design, you know it immediately. Have you ever seen those emails that have been completely misaligned or sat through a PowerPoint where everything is in the wrong colors and fonts? How does it make you feel?
User feedback is a key element to our success and directly influences our roadmap and where we invest and innovate. This feedback fuels our drive to deliver truly impactful capabilities – ones that accelerate business value, drive ROI and lower TCO.
