A look back at the week in Risk Analytics, Big Data and other buzz worthy items
FINANCIAL SERVICES FIRMS WEIGH IN ON RISK SYSTEMS
As more and more businesses update their risk systems, a new study from Deloitte finds that there’s still a long way to go. CIO reports a third of chief risk officers surveyed said they were concerned about the data quality and management capabilities of their risk management systems.
PREDICTIVE ANALYTICS FOR EVERYONE
The Predictive Analytics Market is growing and it appears the sky’s the limit. New research from ReportsnReports.com predicts that by 2018, the market will be worth $5.24 Billion. The new report looks at how predictive analytics is growing across multiple verticals including financial services, government, healthcare and retail.
ALL DATA, ALL THE TIME
Does big data need to be compartmentalized? An opinion piece in VentureBeat this week suggested otherwise. The author offers an alternative to big data called “All Data” where existing data is linked together, analyzed more broadly, and provides value to a wide range of people within organizations.
DATA ANALYTICS FOR THE BOTTOM LINE
Issues such as healthcare reform and changing reimbursement have healthcare finance executives turning to data analytics to help their bottom line. A new article in Health Leaders Media says analytics tools are being used to find revenue cycle efficiencies and other cost savings.
MLB TAKEAWAYS FOR BUSINESSES
Baseball GM’s and managers are increasingly using analytics to evaluate players and manage games. An Information Week article suggest businesses can learn from MLB methods which include valuing data over intuition, embracing metrics, considering context, making predictions and declaring WAR (wins above replacement).