Elevondata can support the development of data science algorithms for your enterprise. We focus on open source platforms such as R and Python but we are capable of working with a legacy SAS codebase. We have worked in multiple areas mentioned below.
Next best offer analysis
Call Centers and Web Channels all require the same thing—to deliver an offer which is cost competitive and which matches the dreams, hopes, desires, or basic needs of the customer. Making this happen has become more complex and requires gathering demographic data from outside sources, social media data, correlating IP addresses and integrating aspirational information, along with some leaps of faith. In order to ensure that the leaps of faith are not too far, Elevondata can use our Data Lake construct and to position data and use data science frameworks to deliver recommendations in near-real-time.
Likelihood to pay analysis for Credit Collections
Credit enables consumers to reach their aspirational goals, but in financial services there are always some consumers who do not pay their bills on time, costing FI’s billions of dollars in lost capital a year. Data Sciences can help the collections process by understanding which customers will be most likely to pay their bills if reminded by phone—by analyzing correlations between payment history and time of day, demographics, and other factors.
It is the holy grail of commerce—can we know how our customers think and feel about us? By using advanced data science techniques including speech-to-text conversion and natural language processing, Elevondata can offer readouts on the sentiment of individual customers or groups of customers, which can be fed back into contact and call center systems to better inform the customer interactions.
Fraud Detection and Prediction
The patterns for criminal activity within financial services and other industries do not always follow the patterns of prior attempts. Staying on top of fraud prevention requires systems that learn what patterns are happening now which are out of the ordinary, and report out ont hose anomalies for further investigation. Elevondata can build anomaly detection algorithms and connect them data stores and data visualization so that fraud prevention officers can have more tools at their disposal.