New world, new models….Data and AI have the opportunity to drive more impact than ever
Business, governments, and nonprofits are attempting to keep pace with a rapidly changing environment, from new customer behaviours to a volatile risk landscape. In many cases, historical data and predictive models have become obsolete as new patterns and correlations have emerged. New consumer purchasing decisions in Retail, changing customer demand in Utilities, and credit risk in Retail Banking are driving change, making new data models all the more critical.
A Retail Banking CDO recently stated that his team had built 300 predictive models over 5 years, all of which are now irrelevant and must be rebuilt. Insurance companies are discarding their models across the board, from Churn through to Underwriting, as the historical data upon which these were based are now outdated.
Data teams require weeks to manually test for new patterns and insights and then build predictive models around their findings. Not only has the world changed by that time, but these insights are limited by their own human intelligence. Human analysts can only find correlations in data which they think to test, preventing their organisation from discovering deeper, hidden insights they may not have thought to consider.
Time to insight is critical
Organisations are beginning to realise how important their data is and how crucial it is to use it to predict near term and decision support systems. To accelerate this journey of timely insights and drive impact, Adatis and SparkBeyond have come together in a shared vision of sophisticated technology solutions for data engineering and strategy.
‘’SparkBeyond and Adatis are unique in their ability to set up a cloud-based data ingestion service on Azure in days, not weeks or months, for clients and then identify the previously unknown patterns and correlations in hours, as opposed to Data Science teams taking weeks of manual testing, driving significant business or organisation impact against KPIs.’’, said Will Maunder-Taylor, Growth Lead EMEA, SparkBeyond.
“Adatis is extremely proud to be partnering with SparkBeyond”, noted Sophie Marshall, Head of Marketing and Alliances, Adatis. “This strategic partnership will enable Adatis to accelerate data driven transformation for our customers and unlock valuable insight from their data, by leveraging the SparkBeyond AI platform.”
Use cases and key sectors
Through this new partnership, both companies hope to accelerate data-driven digital transformation, which will enable clients to ingest data on Azure in a matter of days, utilising SparkBeyond’s software to:
- Combine internal siloed data sets, ingesting data from multiple on-premise and cloud sources
- Deploy a secure Azure-based platform
- Automatically enrich internal data with external data sets from open source maps (geospatial), weather, news, footfall, and mobility
- Test millions of ideas per minute to identify the key patterns and correlations behind business and organisational challenges, which data science teams typically miss and never think to test manually
- Automatically adapt 24/7 to retain high levels of accuracy as customer behaviours change vs. rigid solutions or predictive models
- Visualise data in clear reports and PowerBI dashboards to be shared internally and externally
Adatis and SparkBeyond will be offering their services to a range of sectors and applications, including:
Insurance: Underwriting, Marketing Optimisation, Churn
Retail Banking: Credit Risk Scoring, New Customer Acquisition, Cross-Sell/Up-Sell
Utilities: Customer payment default, Churn, EV Charging Location Optimisation, Engineering Efficiency
Resource and Power: Gas Trading, Flaring Reduction, Procurement
Retail and CPG: Demand Forecasting and e-Commerce as an impulse channel
Adatis, a leading Microsoft Gold Partner, specialises in Data Analytics and Business Intelligence, with clients across Tier 1 Retail and Insurance sectors, to large government departments with recent examples of complex solution deals closed within just one week.
With over 14 years experience delivering innovative and successful solutions built on Microsoft technologies, Adatis has in-depth knowledge of Advanced Analytics, Data Warehousing, Data Strategy, Data Governance, Data Platform, Business Intelligence, Data Science, Artificial Intelligence, and Data Visualization.
SparkBeyond is a top 15 global Data and AI partner for Microsoft and is McKinsey’s global AI platform. Clients range from 45 global banks to 5 of the top 10 CPG leaders.
SparkBeyond’s Problem Solving Platform is designed to tackle the cognitive bottleneck and bias inherent in human thinking, augment data with a multitude of external data sources, and enable adaptive AI systems ready for today’s dynamic world. The platform discovers complex patterns, identifies root causes and drivers of business outcomes.
SparkBeyond harnesses humanity’s collective intelligence to generate millions of ideas in minutes and empowers organizations with strategic and operational intelligence for maximal impact.