BIG DATA

BIIA attended a recent meeting organized by the IDB – Inter-American Development Bank on “Credit Reporting in the Americas: The current state of the industry and its regulations”.   At the IDB conference Neil Munroe, president of ACCIS and BIIA’s deputy managing director, provided an overview of the EU’s regulatory approaches to innovation.  Neil Munroe covered the following topics: EU policy ... Read More »

The European Data Protection Supervisor (EDPS), Giovanni Buttarelli, says that we need to see more accountability in Big Data mergers. “Regulators should have a healthy skepticism on these, and be more conversant with new technology.” Buttarelli spoke at the EDPS-BEUC joint conference in Brussels on 29 September on Big Data and competition policy. The EDPS and the European consumer organization, ... Read More »

Ten Critical Questions in Search of a Answers? There is a huge interest in big data and how it is being harvested, analysed, presented and utilized in the credit reporting sector.  It is probably one of the most contentious of hot topics for which everyone appears to have an opinion, but no real definitive answers as to how stakeholders should ... Read More »

Everywhere you turn these days there are headlines about the rise of big data and how predictive analytics will usher in a new era of corporate innovation, one that upends the norms for how companies interact with their customers. According to Bloomberg News, data scientists are in such high demand that they’re commanding salaries upwards of $200,000. The article quotes ... Read More »

Almost everyone can agree that big data has taken the business world by storm, but what’s next?  Will data continue to grow?  What technologies will develop around it?  Or will big data become a relic as quickly as the next trend — cognitive technology?  fast data? –  appears on the horizon. Let’s look at some of the predictions from the ... Read More »

The recent article in Wall Street Journal “Silicon Valley: We Don’t Trust FICO Scores” prompted our friend Michael Turner (PERC) to post the following response on LinkedIn: Sea Change Afoot in Credit Scoring: All the pieces are in place. Huge, well-capitalized companies are sitting a massive data assets that could be powerfully predictive of credit worthiness (Amazon, Google, LinkedIn, eBay, ... Read More »

Markets do not have much patience for a commitment to techniques that don’t deliver. The Big Data success stories for predicting human behavior over long terms don’t bear scrutiny opines Cyber Security Intelligence. “Regression to the mean” is one of the subtlest concepts in statistical literacy, and yet it’s terribly simple. In plain English, “regression to the mean” is the idea ... Read More »

Being an Introvert versus an Extravert:  Big data has given businesses a window into valuable streams of information from customer purchasing habits to inventory status.  However, internal data streams give only a limited picture, especially with the growth of digital business. Gartner has identified three trends which describe information’s ability to transform business processes over the next few years.  Gartner’s ... Read More »

Dun & Bradstreet and 1010data announced a strategic partnership that aims to provide a solution to hedge funds and asset managers seeking insights and analytics that go beyond traditional analysis of financial statements and key financial ratios. Through the strategic partnership, Dun & Bradstreet’s content, including key business performance data, will be made available through the 1010data platform, providing an enhanced solution to ... Read More »

Goldman Sachs is entering online lending!  BIIA editorial comment. Six months ago Goldman Sachs was a lead underwriter on the initial public offering of Lending Club, the biggest and brashest of a new breed of online lenders.  There it got an inside view of how financial disrupters work.  Now this financial powerhouse is looking to disrupt the disrupters, launching its ... Read More »

You are likely benefiting from the Internet of Things (IoT) today, whether or not you’re familiar with the term. If your phone automatically connects to your car radio, or if you have a smart watch counting your steps, congratulations! You have adopted one small piece of a very large IoT pie, even if you haven’t adopted the name yet. The ... Read More »

A Generic Scorecard calculates the probability of default (PD) and Rating for each company within a country (using SAS for Big Data). PD is dependent on different micro-economic indicators, e.g. demographic indicators (legal form, number of employees, age of company etc.), financial indicators (revenue, profit, liabilities etc.), trade indicators (late payment, sum of invoices etc.), negative indicators (audit remarks, blocked accounts etc.) and macro-economic indicator ... Read More »

Big Data and Open data and analytics have become fundamental tools in disaster preparedness, experts say. But public officials aren’t using them enough. Lucy Jones, a seismologist at the U.S. Geological Survey (USGS), is collaborating with Los Angeles city officials to draft a seismic-resilience plan. She said the city is a prime example of what happens when there’s an abundance ... Read More »