Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
The right customers are important for every business. Marketing to and serving customers who are not profitable removes your focus from your best customers and ensuring they remain loyal to your business. (Click to Tweet!) Scorecards can help you identify and focus on your ideal customers by ranking your customers by the common criteria historically shown to be shared by your best customers.
As part of our blog series on cognitive biases and logical fallacies that data scientists should avoid, today we address a prevalent logical fallacy: the "correlation proves causation" fallacy. Correlation due to causation is just one of the five main categories of causation, and this blog will look into each of the five.
In 2015, we predicted the Rugby World Cup to great success, out predicting 99.68% of humans. In 2016, we predicted the results of the Oscars, accurately predicting DiCaprio’s first win. This year we'll be trying our hand at predicting the outcomes of the FIFA Football World Cup, and we're cautiously optimistic about our predictions.
During the last year, we’ve experienced the escalation of social issues around artificial intelligence (AI), with Elon Musk leading the charge. Musk continues to advocate the idea that humanity is getting closer to a Skynet-like future – to many people’s concern. One of the very real and valid concerns is the idea that many existing jobs will be automated, thanks to AI.
For collection operations and risk alignment, a critical success factor is the ability to predict month-end results accurately and at an early stage of the billing cycle.