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Tuesday, May 28, 2024

AI Analytics Enhanced with UK Data Partnership

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AI-powered data analytics enhanced with UK data partnership. Discover how Doorda and Point Sigma are revolutionizing data-driven decision-making.

Doorda, a British analytics-ready data provider, has partnered with Point Sigma, the world’s first fully end-to-end, autonomous AI-driven data analytics solution. Doorda’s trusted, unique data – gathered only from official sources in the UK – is now a core part of Point Sigma’s platform which broadens the reach of analytics to all decision makers and creates significant competitive advantage for clients.

Identifying and swiftly responding to data-driven insights across a range of needs from marketing and credit risk through to customer service and collections is now a common, business critical requirement. The ability to access and analyze large amounts of data is a necessity, but with a large universe of data sources, understanding complex data set relationships, and applying analysis to provide those insights in a timely manner presents enormous technological and resourcing challenges.

Combining their internal data with easily integrated Doorda data, Point Sigma is helping companies to save time and discover key insights from these large data sets in minutes. They are now able to test hypotheses around end-customer demographics, geographical, property and affluence data through self-service visualizations that are set up automatically without needing input from experienced data practitioners.

Funding Circle was one of the first customers to benefit from combining the Point-Sigma and Doorda products. Part of the Funding Circle data landscape is a vast collection of public data from official organizations, such as local and national governments, regulatory agencies and other public bodies, all provided by Doorda.

According to Rohan Karunanayake, Head of Existing Borrower and Investor Analytics at Funding Circle: “We know the value of this data, and already use it in our machine learning models. The question is: do we use all the relevant insights, and are we not missing anything important that could help us make faster and better decisions?”

After spending just a few minutes with Point-Sigma exploring and using automatically generated insights, a junior Funding Circle data scientist was able to form a detailed understanding of many aspects of the business and its customers through visual exploration of statistical hypotheses that would otherwise have taken many months to complete, ultimately leading to faster and better decision making.

Funding Circle uses sophisticated analytics to track its performance through a number of key indicators, such as campaign response rates, application success rates, credit scoring, payment performance and more.

Leo Pape, CEO, Point Sigma, said: “Data is one of the most valuable assets for any organization, yet few manage to unlock the full power it holds. The demand for impeccably curated datasets still constrains modern AI, and particularly falls short in data analytics applications. Point Sigma applies the power of AI to understanding raw business data, empowering users to effortlessly explore data, enabling quick, informed decisions that drive value for its organization, stakeholders and customers.

Clifford McDowell, CEO, Doorda, said: “The universe of public data is expanding and evolving, and it is imperative for companies to associate that vast variety and volume of data with their other data to swiftly drive transformative insights and business outcomes. We are delighted that clients such as Funding Circle are deriving great value from our data and joint projects with Point Sigma”

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