Monthly Archives: June, 2017

Credit Risk Managers Make Use of Big Data like Never Before

Credit-Risk-Managers-Make-Use-of-Big-Data-like-Never-Before

The post depression bedlam is clearing for developed nations. Nevertheless, the household debts are shooting up, making credit risk managers face growing default rates. As per the reports of International Finance, household debts have risen by USD 7.7 trillion since the year 2007 till 2015. At present, the debts stand at a whopping amount of USD 44 trillion – the figures can give anyone a nightmare!

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In such a topsy-turvy situation, credit risk managers should look for ingenious methods to lower default rates and keep accuracy in check. Application of data analytics infused with Big Data can come to their rescue.

The term Big Data is really very big! Big Data can help draw crucial insights that would help financial institutions in analyzing their customer base and how their purchase decision patterns vary. It can also be used to enhance business results, especially in regard to credit risk management.

If you follow the current business news, in the coming three years, banks would be facing two major risks – Credit and Liquidity.  However, if credit risk managers follow the below-mentioned ways, they can turn this complication into an opportunity:

  1. Data Analytics determines a person’s behavior and how his circumstances have changed. This is verified by his social media activity, which further affirms how his financial position has changed with time. Hence, the chances of fraud and non-repayment are put in check.
  2. With proper analysis of mobile and social media data, credit risk managers may be able to gather insights and broaden their market horizon, enhancing the market base.
  3. Data science can establish contact with low risk customers.

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Parsing Data with Python: The Ways Explained

Parsing Data with Python: The Ways Explained

Parsing data with Python should always be discussed after getting a good grip on the nuances of machine learning because both the intricate concepts are interlaced with each other. Click on the link first  pythonprogramming.net/downloads/intraQuarter.zip and then go forward with parsing the data.

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The data set given in the above link resembles the data set we caught hold of when we first visited the webpages before. The point of interest here is that we don’t need to visit the page even. We just need to have the full HTML source code, that’s it! This system is quite similar to parsing the website without disturbing bandwidth use.

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The Only Prerogative to Combat Ransomware is Predictive Analysis

The-only-prerogative-to-combat-Ransomware-is-Predictive-Analysis

Things are not at all going right in the technological sphere. The domain is shrouded under the dark haze of WannaCry Ransomware this weekend. After the relaxing weekend, the Monday morning situation could never have been worse. The figures revealed on Monday evening by the Elliptic, a Bitcoin forensics firm, affirmed with the duty of keeping a close watch, confirmed a digit of $57,282, 23 shelled out to the hackers of Ransomware malware attack, who took over innumerable amount of computers worldwide on Friday and over the weekend.

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The recent past has been witnessing the unprecedented malware attack across 150 countries. The current picture describes more than 200000 systems around the world being affected and the loss of tons of data.

Also read: How To Stop Big Data Projects From Failing?

A few years back also, Ransomware was unheard of and today it has emerged as one of the major issues of concern. So, what is the solution now? Several veteran data scientists and the honchos of the technological world have voted for Predictive Analysis   as the ultimate solution for destroying Ransomware.

With the conventional cyber defense mechanisms at a backseat, Predictive Analysis defense technology remains the ultimate resort for any organization. The Predictive Analysis is mainly dependent on instituting a pattern of life within the enterprise and saving from disgruntling malware and similar disturbing activities.

Also read: What Sets Apart Data Science from Big Data and Data Analytics

Paul Brady, the CEO of Unitrends, explained the procedure where the backup system uses the tools of machine learning to identify and understand that certain data anomalies indicate the threat of a Ransomware attack.

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So the above mentioned description clearly depicts the many advantages of Predictive Analysis. Now, the sad part of the story remains, that the difficulty in management remains the major blockage for the employment of this method. Let’s hope for the best and wait for the day when Predictive Analysis would be the only possible solution. Till then gather information on SAS predictive modeling training in Pune and Gurgaon only at www.dexlabanalytics.com

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