The Explore Group, which we have covered previously in Hypertext relating to the Data Science Academy, has announced an expansion of its Insights data analytics arm that should be of interest to local SMEs focused in the financial services sector.
This as the data analytics service will reportedly delivering real time insights within 24 hours.
It is unclear whether the Explore Group will be held to that 24 hour turnaround time, but the company is certainly billing it service as a solution that will deliver analytics rapidly.
“Building an internal analytics capability is expensive and complex. Our aim is to quickly, seamlessly and affordably provide SMEs with valuable business insights enabling better business decision making and improving market competitiveness. We can provide an analytics platform that can deliver real time insights for the business within 24 hours,” notes Dewald Botha, head of Explore Insights.
“There are thousands of financial services companies in South Africa employing between 30 and 200 people that are well-established and successful. Financial services is also a sector that can leverage enormous advantage from technology by managing their exposure to risk. Extracting data insights is crucial to this,” adds Botha.
In order to deliver its data analytics service, Explore Insights says it leverages the pool of over 80 data scientists within the Explore Group, adding that many of them have been trained by the aforementioned Data Science Academy.
To offer up an idea of what the Insights team can deliver in terms of custom solutions, the following recent examples have been highlighted:
- “Buyer/seller matching – A tool that matches buyers to sellers of motor vehicles based on their likelihood of approval
- Street pricing – A tool that scrapes competitor prices for pet insurance to inform price points”
- Claims assessor support – A tool that captures pdf invoices digitally and validates it to drastically speed up the claims process
- AI Underwriting – A tool (also API) that predicts default probability based on financials, that outperformed human underwriters
- Intelligent OCR – A tool that digitises pdf financial and bank statements, storing the data and providing insights
- Predictive Reporting – An automated dashboard showing exposure, risk and expected loss metrics by various dimensions.”
To find out more about Explore Insights and what it could potentially offer your SME, head here.