Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
We are approaching a time of the year when planning for 2018 takes centre stage. As such it is important to look back and asses the channels that have been used across contact centres and determine their effectiveness. At the same time, it is important to look ahead at the trends and customer behaviour which can help lead to better customer interactions and satisfaction.
We have a bit of a joke in the office around how data scientists in 2027 will have a good laugh at what we define as ‘Big Data’ in 2017. Pat pat, there there, I guess that was Big Data back then. Unlike the term Big Data, Machine Learning is here to stay. It is after all one of the foundations of Artificial Intelligence and this is rapidly becoming more and more part of our culture. The impact of Machine Learning is being felt on a daily basis, from using interactive devices like Amazon’s Echo to do our shopping, learning a language through DuoLingo, or interacting with chatbots to get your statement in under a second instead of waiting “for the next available agent”. So what has happened, why the recent explosion of Machine Learning applications?
Most industries owe their levels of sophistication to the visionaries in their space. The South African credit industry is no different. Whilst the bureaux and the banks have played a significant role in developing the South African credit landscape, arguably the fashion retailers have also played a pioneering role in revolving credit. And so our vibrant industry owes much to the role of the fashion retailers. But how did it all begin?