It is no secret that technology has virtually transformed every industry in the world. From empowering the manufacturing industry with tools like virtual reality, augmented reality, and various other forms of mixed reality to artificial intelligence and machine learning helping doctors and health care professionals tend to their patients better — there seems to be no limit to what technology has done and can do to make our lives better in a million different ways. And there isn’t — take the…Continue
Added by Ryan Williamson on February 10, 2020 at 4:30am — No Comments
I am a believer that the pathway to innovation must end with putting a product or service into the market that provides economic value to customers, economics the branch of knowledge concerned with the production, consumption, and transfer of wealth. Innovation is about economics and economics is about value creation. It’s about the 4M’s…Make Me More Money!
Products or services that never reach the market may have been great ideas, but you can’t pay the mortgage or buy your Venti Chai…Continue
Added by Bill Schmarzo on February 3, 2020 at 6:30am — No Comments
Blockchain technology has taken the IT world by storm. It has the potential to change the digital world completely, including the way businesses operate and make transactions. Initially, it was used to handle cryptocurrencies such as Bitcoin. Today, numerous business applications across domains use Blockchain as their central component.
However, Blockchain is still at an evolving stage, and its adoption is slow in most industries. Toward this, a programming language like Java can help…Continue
The Economic Value Curve is a measure of the relationship between a dependent variable and independent variables to achieve a particular outcome such as retain customers, increase operational uptime, or optimize inventory. The Economic Value Curve measures the impact that increasing or decreasing one of the independent variables has on the dependent variable. In Figure 1, for example, if we want to improve the dependent variable “Uptime %” then we need to spend more on the independent…Continue
Added by Bill Schmarzo on January 30, 2020 at 11:30am — No Comments
I am always looking for examples to bolster my University of San Francisco “Economic Value of Data” research efforts, and I think I’ve found a good one. The NHO article “Is value creation with data something Norway can live off of?” states that Norway believes that 1) the financial or economic value that Norway will be able to extract from data is on a par with the oil, while 2) the value of data is even more important than oil when considering the broader society…Continue
Added by Bill Schmarzo on January 26, 2020 at 5:00am — No Comments
Demand is the key indicator for every business to consider before taking the first step or expanding in the chosen market segment. It drives economic growth while central banks and governments boost demand to end down-sliding. Demand Prediction, which is part of Predictive Analytics, implies an evaluation of the number of goods and services that consumers will probably buy in the future. The most critical business factors such as turnover, profit margins, cash flow, capital…Continue
Added by Roman Chuprina on January 24, 2020 at 4:00am — No Comments
Hello! This is my first post on Data Science Central, so please be patient. I've had a short Q&A session with our CTO Sergey Nemesh.
Q: What problems can Blockchain solve for the FinTech sector?
A: The main global problem in the FinTech sector is trust providing as for financial operations it plays a crucial role. Blockchain provides trustless transactions which…Continue
Added by Valery Geldash on January 15, 2020 at 10:07am — No Comments
To get a defining advantage over the competitors the banks, as well as other financial institutions must dig deep into technology breakthroughs. Luckily, Artificial Intelligence and Machine Learning are already here to help them to achieve it. Improving data processing will lead to better strategies and fraud prevention levels.…Continue
Added by Roman Chuprina on January 15, 2020 at 4:00am — No Comments
Machine Learning is a term heard around the world these days. Industries like Retail, Healthcare, and Manufacturing are taking the best out of it. So does the leaders in Banking and Finance. There is enough time and room before the technology will truly explode. However, we can still talk about some real-world use cases and ways your business can…Continue
Added by Roman Chuprina on January 14, 2020 at 5:00am — No Comments
Maybe the biggest challenge we face as a society is our ability to unlearn – to let go of – outdated concepts and beliefs in order to adopt new approaches. Our everyday lives are dominated by outdated concepts: change the oil every 3,000 miles, don’t wear white before Memorial Day, only senior management has the best ideas, don’t eat dessert until you’ve cleaned your plate, trade wars are easy to win, leeches work wonders on headaches, etc.
Well, I’m going to throw down the gauntlet…Continue
Added by Bill Schmarzo on January 13, 2020 at 6:00am — No Comments
Gone are the days when insurance and nbfc sector was relying completely on manual processes. Today with the emergence of AI and data-driven business decision making coupled with the application of IoT technologies there is a radical transformation of business processes in insurance and other financial services, like straight through processing becoming mainstream.
Let us look at different use cases:
1. Insurance Models:
Consider the recent proliferation…Continue
Added by Mahesh Kumar CV on May 19, 2019 at 7:11am — No Comments
Deep Learning is picking momentum in Quantitative Finance, outside the obvious application to the prediction of asset prices (where to my knowledge it is not particularly effective) and spreading into the more serious application area of option pricing and risk management.
These two recent papers clearly demonstrate the benefits of DL as a pricing technology alternative to the classical FDM and Monte-Carlo in certain contexts:…Continue
Added by Antoine Savine on January 11, 2019 at 5:30am — No Comments