A New World of Financial Analysis

While there is plenty to take advantage of right now in today’s market as previously mentioned, the everyday use cases for the finance professional to utilize cutting edge analytic technology will continue to grow. For example, one pilot program took the customer churn example described earlier to a whole new level by combining structured and unstructured data. (Structured data is typically data that is stored in rows and columns where numbers can be easily calculated. Unstructured data is data that is stored in emails or rich text fields.) The pilot interpreted the tone of emails from customers in unstructured data combined with data elements like contract renewal dates, DSO, etc. and made a prediction on which customers might not renew.