The Data Analytics Blog

Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.

All Posts

Working Wonders In The Age Of Data

We chat to Principa's Chief Executive Officer, Jaco Rossouw, about the thrilling new world of data and how businesses can work wonders with data-driven insights.

Here's what we discovered:

We live in this wonderful new world of technology, AI and data, but what does this new and exciting world of wonders mean in Principa?

The time we are living in today, we see technology fusing the digital, physical and biological worlds. This is what is commonly referred to as the 4th industrial revolution. Now this might sound foreign or strange, but it’s not, it’s already part of our everyday life. The fitness tracker that you are wearing is linked to your medical service provider. The data generated by that device is used to reward you with free coffee or muffins based on your behavior. It's a great example of digitizing biological feedback and using it to drive a retention strategy. Another example would be a tracker installed in your car, that feeds data back to your vehicle insurance provider. The data could be used for either tracking down a stolen car or for lowering your insurance premiums based on your driving habits. This is an example of physical data being used to inform pricing strategies. 

For Principa, the journey is really to understand how can we simplify the complex. How do we find value in data? How can we package that value in a way that is easy to consume and that delivers data-driven decisioning? So it's all about efficiency, automation and data-driven insights.

This sounds fascinating, but what does this mean for larger and especially for smaller organisations?

That’s a good question and that’s where it gets exciting, especially for SME's. None of this is new to the tier 1 financial services providers, retail banks and retail credit providers. They have been in this world for many years and they’ve always invested in technology and data science. So a lot of the words are new, but the science is fairly well established.

What has happened with this explosion in technology processing power, as well as the availability of data is that it has became a lot more accessible. (Click to Tweet!) We are looking at software and application pricing models that are really supportive of small and medium businesses: usage based models. That makes it easy to implement data-driven decisioning within your business.

From a Principa perspective, what we would really like to talk to you about is what is the question that has the power to transform your business? What limit to give to a specific customer, what is the probability of default, or what is the exact amount that you should contract with a debtor that would give you the best yields: these are the questions that we want to answer with the available data. At Principa, we use data to predict human behavior. Human behavior translates into making the right decision, at the right time, in the right point of your engagement with a customer. (Click to Tweet!

If you're interested in finding out more or would like to discuss how Principa can help your business answer the questions you need answered, get in touch

using machine learning in business - download guide

Videography by Retroyspective.

Perry de Jager
Perry de Jager
Perry has been involved in Collections and Recoveries for the past 12 years, spending time in different market segments ranging from law firms to investment companies. At Principa, Perry has worked on extended projects within both South Africa and the Middle East with some of the largest financial organisation, providing on-site consulting within the collections and recoveries space covering strategy, process, people and technology.

Related Posts

Meet Agent X – Your Call Centre Virtual Assistant

 Meet Vusi, a call centre agent, with call centre agent struggles. He needs to keep his customers engaged while he shifts between various systems to find the information he needs to meet his manager’s expectations of consistent, successful call outcomes.

Cloud Versus On-Premise: Which Solution Is Best For Credit Lifecycle Software?

If you're tasked with selecting a credit lifecycle software for your business, one of the most significant decisions facing you is whether to go with cloud-based or on-premise software. It's a question we get asked often, but the answer is often more complicated than an outright recommendation of one or the other. Each solution has pros, but also cons and therefore you’ll need to compare the two in-depth and select the option that suits your business strategy, and more importantly, your IT strategy.

6 Key Considerations When Managing Your IFRS 9 Forward-Looking Overrides

As part of the group that was the second company worldwide to become IFRS9 compliant, IFRS9 has been at the forefront of what we do.  We have assisted nearly 20 companies on their IFRS9 journey over the last two years.  This blog forms part of a more extensive series on IFRS9. In this blog, we explore the administering of management overrides.