Joseph Sirosh of Microsoft comments on the value of LifeData in predicting fraud for a major retailer and gift card fraud.

Versium operates a predictive analytics scoring service called LifeData®. Pulling together over 400 billion real-life attributes across disparate sets of data such as purchase interests, social behavior, demographic data and financial information, Versium creates unique insights into customer behavior and helps companies leverage these insights in their promotion and marketing campaigns.

Versium is working with a major retail customer to help them detect fraudulent purchases of gift cards. This retailer already has an existing rules-based system to detect such fraud, but it generated many false positives (i.e. erroneous prediction of fraud). Minimizing such errors while stopping fraud was an important success criteria for this customer. Versium was able to quickly put together a predictive modeling solution on Azure ML, which, in a test run, showed that only 6 percent of 1000 transactions that had been denied by the old rules-based system were actually fraudulent – numbers that translate into much higher customer satisfaction, higher revenue and considerable value for this retailer. Here’s what Chris Matty, CEO of Versium, had to say:

Main advantages [of Azure ML] are in being able to interactively visualize the whole machine learning process, data and metrics of the model, being able to publish a web service quickly after the model is built. From my perspective, the solutions we deploy are very high value and mission critical – e.g. fraud prevention. So accuracy, speed and security are critical and I see all of these as value points in the technology. We deploy many scores and being able to build, tune and validate a model within days is a strong value benefit. Leveraging the Azure ML platform enables us to create and deploy a predictive score that uses Versium’s proprietary LifeData®, in combination with our partners’ enterprise CRM, marketing, or other internal data elements in a matter of days.

Learn more at the Microsoft Machine Learning Blog

Microsoft innovates to meet cloud demand with Versium

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Microsoft is making new strides and Versium is right there with them.

Here’s an excerpt:

The Azure Machine Learning service we announced in June will be available for preview on Monday. This is groundbreaking technology that partners can use to build advanced analytic cloud services for their customers in minutes and hours, eliminating much of the heavy lifting associated with deploying machine learning in modern data-driven applications. Partners like… …Versium are already providing solutions with this service to their customers… …Treehouse and Millionair Club Charity.

Learn more at the Microsoft Tech Blog

Versium’s Predictive Giving Score

Versium’s Predictive GivingScore “Gives” Charities and Fundraising Groups An Edge By Identifying High-Impact Donors

 Predictive analytics scoring service helps organizations better manage their donor and charitable giving programs

REDMOND, Wash. – July 9, 2014Versium, a data technology company that operates a LifeData® predictive analytics scoring service, today announced the launch of its Predictive GivingScore solution. Two Seattle-area organizations that are gaining considerable predictive insights from Versium’s GivingScore are the Millionair Club Charity, an organization that addresses homelessness and Treehouse, a nonprofit organization serving youth in foster care.

The GivingScore is being built with Microsoft Azure Machine Learning predictive analytics technology, which leverages Versium’s LifeData platform, made up of more than 300 Billion real world consumer behavioral attributes including purchase interests, education level, family status, financial standing and social behavior, among others. Both The Millionair Club Charity and Treehouse are using GivingScore to better target and manage their fundraising and charitable giving programs.

“We’re helping both non-profit and for profit organizations of all sizes get a better understanding of their donor base with Versium’s GivingScore,” said Chris Matty, Versium CEO.  “Who is more likely to donate?  Will they likely be a high or repeat donor? Which of my existing donors are most likely to donate again and who is likely to make a greater contribution?  These are the questions Versium’s GivingScore answers.  We are honored to bring the Millionair Club Charity and Treehouse with the cutting edge abilities of predictive analytics and scores to help them continue to grow their donor base and increase their level of fundraising.”

“Our goal is to make machine learning more accessible to every organization – big or small and empower them to derive meaningful and actionable intelligence from predictive analytics,” said Eron Kelly, general manager of Data Platform at Microsoft. “For customers, this means virtually none of the startup costs associated with authoring, developing and scaling machine learning solutions.”

“The Millionair Club Charity has always been supported solely by private donations, of which 88 cents of every dollar goes directly to program services,” said Jim Miller, executive director, the Millionair Club Charity.  “Working with Versium has given us the ability to analyze our generous donors and best identify additional ones in order to create fundraising programs and giving events that are tailored to the right audiences.”

“With the support of thousands of dedicated community partners, Treehouse is able to provide kids in foster care with the academic and other essential services that every child needs to graduate high school with a plan for their future,” said Janis Avery, CEO, Treehouse. “Partnering with Versium is helping us better understand the relationships we build with our supporters, and where to allocate resources to increase the impact of those relationships.”

Versium’s GivingScore is the latest predictive score solution in the company’s suite of analytics services. Earlier this year, Versium announced its FraudScore, enabling companies to put a stop to fraudsters with just an email address.

 

About Versium
Versium (www.versium.com) is a data technology company that operates a LifeData® predictive analytics scoring service.  Versium delivers Predictive Scores that are built from the company’s proprietary LifeData® platform which contain over half a trillion data attributes sourced from publicly observable and commercially available means. When matched to an enterprise’s CRM, marketing, or other internal data elements, easy to understand scores are generated that deliver specific ROI value.   For more information, please visit www.versium.com or follow us on Twitter @versiumsocial.

 

About The Millionair Charity

Since 1921 the Millionair Club Charity has changed thousands of lives by providing jobs and other essential support services to individuals who are homeless or unemployed in Seattle and King County.  The Millionair Club Charity is addressing homelessness in our community by providing programs that develop economic opportunities for individuals while building their self-reliance.  For more information, please visit www.millionairclub.org or follow us on Twitter @millionairclub.

 

About Treehouse

Founded in 1988, Treehouse is Washington’s leading nonprofit organization addressing the essential education and enrichment needs of kids in foster care.  Treehouse helps 6,000 foster kids each year through programs that help them succeed in school, fulfill key material needs, and provide important childhood experiences every child deserves.  Treehouse has set an ambitious goal that foster youth in King County will graduate high school at the same rate as their peers with a plan for their future by 2017.  Learn more at treehouseforkids.org or @TreehouseTweets.

Veteran Executive Vijay Vashee Joins Versium’s Board of Directors

Veteran Executive Vijay Vashee Joins Versium’s Board of Directors

Former Microsoft executive brings extensive track record of enterprise business success and financial results to data technology company

REDMOND, Wash. – March 4, 2014 – Versium (www.versium.com), a data technology company that operates a LifeData® predictive analytics scoring solution, today announced that Vijay Vashee has been appointed to its Board of Directors. Vijay has two decades of experience leading marketing and product teams during his tenure at Microsoft. He successfully achieved significant milestones for several key products including Microsoft Project and PowerPoint.  He will help guide Versium’s growth with a focus on business expansion and maximizing profitability.

“We are very fortunate to be adding a veteran of Vijay’s pedigree to our board,” said Chris Matty, Versium’s CEO.  “As we continue to deploy our services to industry leading enterprises, it’s imperative that we continue to add elite brain trust to our leadership team. His successful executive track record and board experience coupled with his extensive industry contacts makes him an exceptional addition to our team.”

Vashee currently serves on the Board of Trustees of Fred Hutchinson Cancer Research Center and is a member of the Computing and Information Science Advisory Council, Cornell University Entrepreneurship Council and the University of Chicago Entrepreneurship Board.  Vashee is also closely involved with a number of start-ups and is the President and Chairman of the Seattle Chapter of The Indus Entrepreneurs (TiE), a not-for-profit organization that supports and mentors entrepreneurs.

“Versium’s approach towards delivering predictive analytics allows businesses to focus on the right issues quickly and efficiently versus the current shotgun approach which is costly and time consuming,” said Vijay Vashee.  “They are ahead of the curve in this growing industry and I look forward to working with the Versium team as they continue to enhance the LifeData® platform and launch additional Predictive Scores.”

Vashee joins current Versium board members Matty and Kevin Marcus, Versium’s CTO.

About Versium
Versium (www.versium.com) is a data technology company that operates a LifeData® predictive analytics scoring engine.  These technologies enable organizations to be more data-driven by powering and creating solutions that help optimize consumer engagement, improve marketing efficiencies and better understand, retain and find new customers.  Versium brings together disparate sets of observational data, comprised of over 300 billion real-life attributes and combines these insights with an organization’s existing enterprise data to provide a richer, more actionable profile of each individual consumer and more intelligent analytic models.  For more information, please visit www.versium.com or follow us on Twitter @versiumsocial.