Poor data quality is the single biggest contributor to the poor performance of customer risk-rating models

Poor data quality is the single biggest contributor to the poor performance of customer risk-rating models. Incorrect know-your-customer (KYC) information, missing information on company suppliers, and erroneous business descriptions impair the effectiveness of screening tools and needlessly raise the workload of investigation teams. In many institutions, over half the cases reviewed have been labeled high risk simply due to poor data quality – McKinsey

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Don’t get stuck in a big data trap!

An Information Management article repeats strategies for Solving the Big Data “Abandonment” problem The article cites research by Cap Geminii claiming that, in spite of executive support and considerable spend, only around a third of big data projects are considered to have been successful. The reasons, and proposed solutions, are consistent with thise that I have…

Brazil

Big data! How many zeroes in a brazilian?

Zettabytes, exabytes, Petabytes – what is up with the big numbers? [Tweet this] A common approach to discussions on big data is to throw big (and meaningless) numbers at the audience. How many email messages were sent in the last second – cue BIG NUMBER! How much data has landed on the Internet in the last…