IntelTrax Top Stories: September 28 to October 4
October 8, 2012
Lately, the IntelTrax information and advanced intelligence blog has been covering a lot of stories related to risk analytics.
The October 4 post “Risk Analytics Becomes Big Business” explains how the days of manually entering data into spreadsheets are over and how risk can now be quantified and lowered with the use of analytics technology.
The article give an example of a company using analytics to mitigate risk:
“Numerix (http://www.numerix.com/), the leading provider of cross-asset analytics for derivatives valuations and risk management today announced that Banque Internationale à Luxembourg (BIL), a pioneer in the Luxembourg financial industry has selected the Numerix CrossAsset analytics platform to support its model validation and model comparison processes. With Numerix’s highly flexible, fully transparent analytics architecture, BIL can conduct rigorous model analysis to independently validate pricing and risk sensitivity outputs, as well as make comparisons between different models to analyze how the outputs vary under different assumptions.”
Another article that emphasizes the financial impacts of data analytics is, “Effective Financial Data Analytics Rely on Quality.” This article discusses how important it is to utilize statisticians and data preparation along with a business’s strategy to form predictive models.
The article states:
“A critical aspect therefore is identifying what data is needed for effective prediction – and what data ends up actually being available and used to build the models. Most analysts can’t fix data – therefore they do the next best thing statistically, which is dropping or avoiding poor quality data.
Data analytics touches nearly all aspects of a business and it’s nearly impossible to achieve effective business intelligence without it.”
The Financial sector is not the only one that is using data analytics technology. It appears that the government is jumping on board the big data wagon as well. “Government and Utilities Get Big Data” explains how analytics spending has gone up quite a bit in the business world.
The article states:
“Utilities must solve data collection and storage challenges and learn how to analyze and act on new forms of information before they even get to the point of realizing real returns on their smart grid investments.
According to a new report from Pike Research, a part of Navigant‘s Energy Practice, the worldwide market for smart grid data analytics is expected to grow steadily through 2020, with cumulative worldwide spending from 2012 through 2020 totaling just over $34 billion.”
One company that has worked to provide data analytics technology for both the government and financial enterprises is Digital Reasoning. Digital Reasoning uses automated understanding to tackle some of big data’s most messy challenges by enabling enterprises and agencies to detect fraud, uncover market trends, gain better insight into customer behavior, gain competitive advantage, and mitigate risk.
Jasmine Ashton, October 8, 2012
Sponsored by ArnoldIT.com, developer of Augmentext
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