Credit scoring is a statistical analysis performed by lenders and financial institutions to assess a person's creditworthiness for mortgages, credit cards, and private loans. Credit scoring is used by lenders to decide whether to extend or deny credit.
Traditionally, a person's credit score determined by credit bureaus is a number between 300 and 850 with 850 being the highest credit rating possible. As new types of lenders and insurers emerge, however, the traditional credit score becomes just one parameter joined with a large variety of alternative data that helps determine a person's creditworthiness.
B2C fraud includes insurance fraud, payment fraud, identity theft, etc. and reviewing claims is so time-consuming and difficult that many insurers do little more than a cursory review on small claims. Fraudsters know this and will file—and win—small claims for losses that didn't really occur.
Brand affiliation measures people’s identification with a certain brand. More than recognizing a brand or liking their products, affiliation refers to a personal connection, where customers feel like the brand represents them.
Brand awareness is the degree to which a customer is able to recall and recognize your brand. Brand awareness is critical for promotion and marketing, especially for a young company. High brand awareness can result in a company becoming very popular or "trending."
Behavioral targeting is the process of marketing to people who are most likely to use your products or services based on their demonstrated behavior. This behavior may be online (for example, keywords searched, websites visited) or offline (location tracking data, for example).
Nowadays, the abundance of data and the advances in Machine Learning and big data applications reduce the need for top-down segmentation of customers. Smart customer clustering based on many commonalities help companies better address customer needs to provide the right experience and divide resources efficiently.
A cybersecurity posture is essentially the total procedures, policies, and services that an organization uses to defend itself from cyber attack. Companies evaluate their security risk then develop policies, employee training procedures, and, if they have the resources, malware, virus, and other threat detection services, focusing on their most vulnerable assets.
In short, a cybersecurity posture describes an organization’s cyber threat readiness and identifies areas where this readiness can be improved.
A distance learning course refers to online education method where students learn at their own pace but also have the benefit of teacher instruction.
Interest in distance learning has spiked massively over the past year, due to worldwide lockdowns forcing in-person educators to change tactics, so there is more data than ever on this subject. Often, the term is used interchangeably with “e-learning” and “virtual classroom” although there are important differences. E-learning, for example, refers to self-paced study without the instruction of a teacher or set study times. A virtual classroom, on the other hand, has a teacher overseeing students and a set class time.
Machine learning models, referred to as EHRs (electronic health records) or EMRs (electronic medical records), help clinicians better manage patient health records through population management, diagnostics and smart documentation. Clinicians also use these models to perform other clinical tasks.
MFA stands for multi-factor authentication. It refers to the use of more than one means of identification to access a secure software system. Usually, MFA security uses a combination of traditional security measures, like keycards and passwords, and biometric measures, like retinal scans.
A subset of MFA security, which uses two, three, or more authentication measures, 2FA security uses two.
More than merely translation material into a target language, marketing localization consists of adapting your approach to the local culture. This includes website translation, currency conversion, and relationship building with local banks or distributors. Even product adaptation—making changes to the products you sell—can be part of a broader localization strategy.
Machine learning models are increasingly used to adapt material to local cultures. Translation, especially, lends itself to machine learning solutions.
As organizations continue to adopt IoT technology, ensuring secure access to a private network becomes particularly difficult. Network access control systems, however, protect network data by requiring user authentication and authorization before every request.
These systems also proactively address security breaches, though many also integrate with anti-virus or malware systems that organizations already use.
Remarketing campaigns show ads to people who have visited a business's website or downloaded one of its apps. Remarketing is designed to get potential customers who have shown interest in your product or service to recall your business and their intent to buy, therefore enlarging the odds of them converting.
Banks, credit unions, credit card companies, insurance companies, stock brokerages, investment funds, and more must report their activities to government regulatory agencies. Following financial crises in the late 2000s, regulatory compliance has become stricter and more onerous on financial services companies like those listed above.
From the stricter need for reporting and the massive amounts of data generated by financial institutions, the regtech industry has sprung up, combining regulatory reporting and big data technology.