Do ‘Know Your Customer’ programs really work?

“Know me? No? It’s me!” Every time I walk into an establishment where I hold some sort of loyalty card, I wonder if “they” really “know me.” That got me to thinking about Know Your Customer (KYC) programs. More and more, financial institutions are performing KYC, not to really get to know you, but to check off that they followed yet another mechanical process. Recently, I ran into a very good friend of mine that I had lost touch with for almost 30 years. When we met…

Making Use of Data in Manufacturing

I guess by now most people have fully understood the value of data driven decisions and are looking to find the right entry point, i.e. the right initial use cases to dip their toes into the data lake before really getting feet wet. One of the questions coming up quite often in customer discussions is how to start. Maybe the following can help some of you to find those initial use cases. Please keep in mind: IoT / Smart Manufacturing / Industry 4.0 etc. is…

Leveraging the Value of Big Data with Automated Decision Making

It is a widely accepted fact that we are living in the era of Big Data. Many traditional companies are looking for ways to improve their business through the virtues of Big Data and Data Science. While matured startups born in this era like Facebook and Twitter seem to naturally exploit the value of their data, many traditional companies struggle to find new ways of utilizing their data to leverage its value for their classical businesses.

Predictive Analytics: Applying Machine Learning in Big Data Environments

Big Data applications do not only depend on exceptional technologies to efficiently store and access large amounts of data, but also require highly sophisticated analytics techniques in order to gain as much insight and added value from the available data as possible. Especially in the field of Predictive Analytics the combination of Machine Learning (ML) and computational statistics offers powerful tools to identify and describe trends and behavior patterns from the automated analysis of historical data. Many of these toolkits have been developed for scientific…

Right Data: Why Big Data Sometimes Just isn’t Enough

Big Data is everywhere! The sources of Big Data are manifold and are related to several popular topics: sensors in vehicles (Connected Car) or production lines (Internet of Things, IoT), mobile communication, social media, and many other areas are capable to steadily produce enormous amounts of data. The pure collection of data is not an end in itself. The underlying goal is to generate additional value from it through skillful exploration. In recent years, the ability to both store and process Big Data sets improved…

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