PredictiveAnalyticsToday.com talks up Versium and Datafinder. Read the excerpt below
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Versium press releases, blog posts, and news coverage
PredictiveAnalyticsToday.com talks up Versium and Datafinder. Read the excerpt below
Read more at the the source
With 90% of the world’s data created in the last two years, companies are blessed with an incredible volume of data to help improve the performance of their sales and marketing efforts and derive customer insights that can produce game changing results.
However, many companies end up not even attempting to garner the value of Big Data as there is a perception that it can be tremendously complex, difficult and expensive. Additionally, new tools and expertise may be required to do complex data analysis, and many C-Level executives don’t want to fund Big Data ventures without first getting proof of ROI.
These challenges all conspire to make Big Data monetization a delicious dream as opposed to a consistent way to drive revenue. So, what’s a marketer new to leveraging value from Big Data supposed to do?
Here are five best practices we recommend using DataFinder and LifeData® (Versium’s data set of more than 800 billion relevant consumer data points) to extract value from the different data sources you already have to gain quick lift/ROI and build momentum for a Big Data strategy:
1. Add demographics to your existing data such as age or location for improved segmentation.
By running a list of prospects or customers through DataFinder, you can append demographic information that will give better insight into how to manage segmentation. For example, you may think your customers are all in their 40s and 50s, but using DataFinder, you may learn that half of your customers are actually Millennials, giving you better insight into how to organize and message to them.
2. Perform a quick data analysis to discover previously unknown interest data that can lead to improved messaging.
By running an analysis of your customer base using DataFinder, you may find your prospects have similar interests that you would have never guessed in a million years. For example, you may find that the majority of your prospects are cat owners or love long-distance running. Using this information you can fine tune your messaging based on what the data says your prospects would likely respond to.
3. Use predictive scores for better targeting and prioritization.
DataFinder can also assign predictive scores to your prospect or customer lists, allowing you to quickly understand the probability of an individual taking a certain action. For example, you can assign “green scores” to your prospect or customer lists to understand how likely each person is to buy an ‘eco-friendly’ product. You can also use DataFinder to assign a score that tells you… the likelihood of someone to purchase additional products, donate to your cause, spend more based on wealth, cancel a membership, etc.
4. Add emails to prospect lists to run an email campaign to previously unreachable prospects.
If you have a list of prospects but are missing critical information—like email addresses—you need to be able to market to them, DataFinder can quickly find and append that missing data.
5. Validate postal addresses and phone numbers are correct before running a direct mail or cold calling campaign.
Sales and marketing tactics like cold calling and direct mail aren’t cheap. By using DataFinder to validate customer and prospect data before running these types of campaigns, you can improve your effectiveness tremendously. You can also help ensure you don’t waste time and resources by sending mail to bad addresses or placing phone calls to bad lists.
Summary: DataFinder is a self-serve solution that can help by appending missing consumer information to customer or prospect lists to improve your ability to connect with and engage your target audience. With the ability to add missing contact and demographic information as well as activity, interest, financial and social data you can gain new insights into your customer base or prospect lists, which will allow you to make smarter decisions faster, run better campaigns and ultimately, increase revenue.
Feel free to contact us with any questions.
Versium announces Datafinder.com, a self-serve data technology website that delivers predictive scores and LifeData® to small and mid sized businesses.
Now small and mid-tier companies have access to the benefits of predictive analytics and other data technologies previously only available to large enterprises.
REDMOND, Wash. –October 27, 2014- –Versium, a data technology company and leading provider of predictive analytics solutions announces the launch of Datafinder (https://datafinder.com), the company’s self-serve website which provides data and data technology tools to businesses of all sizes. Datafinder’s predictive marketing scores are built from Versium’s LifeData® predictive analytics engine. These scores help businesses understand specific consumer behavior characteristics that improve marketing efficiencies. Datafinder’s LifeData® append and data validation services help businesses ensure correct contact information, enhance communication channels and improve the quality of their CRM systems.
LifeData® – deep, accurate, unique data
Versium’s LifeData® platform, the engine behind Datafinder, contains over 800 billion unique LifeData® behavioral attributes which include contact, demographic, financial, lifestyle, purchase interests, social data and more. By appending LifeData® to a consumer database, marketers receive deep insights about their customers. These insights enable marketers to communicate better with their customers and prospects. This allows marketers to determine the best marketing content and create custom offers that target messages to specific audiences. Versium’s proprietary matching technology enables LifeData® attributes to be added to customer lists, at rates as high as 80%, producing highly accurate and actionable consumer insights.
Versium’s ground breaking predictive scores utilize machine learning, complex algorithms and LifeData® to produce predictive models that score likelihood to take a specific action. Predictive Scores available on Datafinder include:
Predictive scores can be appended to customer lists, prospect lists or existing enterprise applications via APIs so that businesses can easily act on a single piece of information. New predictive scores will be added in the coming months.
Contact information at your fingertips
Datafinder’s self-serve tools allow businesses to easily append contact details such as emails, addresses or phone numbers. Datafinder verifies telephone numbers and the deliverability of email addresses, and when available, will append valid email addresses and working phone numbers. This allows marketers to connect with more customers or prospects and enables multi-channel marketing programs by allowing marketers to communicate with customers and prospects in more ways (email, phone and postal).
“Our goal is to democratize data technology and predictive analytics so these valuable capabilities are available for all businesses. We built Datafinder to give small to medium-sized businesses access to data and data technology that were previously only available to large enterprises,” said Versium CEO Chris Matty. “Predictive scores with LifeData® allow businesses to gain the insightful value from predictive analytics without having to hire expensive data science resources or purchase expensive analytics platforms.”
Versium (https://versium.com) is a data technology company that operates the LifeData® predictive analytics scoring service. Versium delivers predictive scores that are built from the company’s proprietary LifeData® platform which contains 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 versium.com or follow us on Twitter @versiumsocial.
Versium’s ID Risk Score measures the risk of becoming a victim of Identity Theft or Fraud and includes reasons for different risk levels such as discovery of compromised credentials.
REDMOND, Wash. – October 1, 2014- –Versium, a data technology company and leading provider of predictive analytics solutions today, announced it’s latest Predictive Score, the company’s new Consumer ID Risk Score. In a time when each week we learn of yet another significant data security breach, it’s becoming critical for consumers to understand their risk of identity theft and how to address this concern. Developed as an extension of the company’s Account Fraud Risk Score, Versium’s new Consumer ID Risk Score incorporates hundreds of LifeData® predictive signals to determine identity theft risk level. The solution is designed to complement existing identity protection and monitoring services by scoring a consumer’s identity theft risk level. If a consumer sees they have a high ID Risk Score, potentially due to the discovery of compromised credentials or a large data breach in the area, they might consider taking actions to address this risk such as:
“In today’s digitally connected world, consumers want to ensure their identity is secure and safe. When it comes to identity protection and monitoring, we strive to deploy innovative solutions that help consumers monitor and protect their identity. The first step is to understand the level of risk of becoming a victim of these crimes. Versium’s Consumer ID Risk Score has proven to be more predictive than alternative approaches,” said Drew Smith, CEO of InfoArmor. “Incorporating this Score into our Privacy Armor and SNAPD Identity Monitoring products allows customers to immediately understand the risk of their identity being stolen and the drivers of the risk level.”
“We have been helping organizations get in front of fraudulent activity with our Account Fraud Score. Now we can help consumers as well with our new ID Risk Score,” said Chris Matty, Versium CEO. “We continue to look for ways to apply machine learning and predictive analytics technologies to our powerful LifeData® platform to bring innovative solutions to the market. As with all of our Predictive Scores, our ID Theft Risk Score incorporates a consumer’s unique LifeData® or living history data points. This data is then analyzed for correlation to high-risk behavior and a score is generated that measures identity theft risk level.”
By integrating Versium’s ID Risk Score into the Privacy Armor and SNAPD Identity Monitoring service, consumers can now immediately understand the risk of their identity being stolen. Additionally, Versium will provide to InfoArmor flags as to why the consumers Identity Theft Risk score is what it is, so that this risk can be better understood, and consumers can determine the best path of action.
Versium (www.versium.com) is a data technology company that operates the LifeData® predictive analytics scoring service. Versium delivers predictive scores that are built from the company’s proprietary LifeData® platform which contains 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.
InfoArmor works with companies throughout the nation to provide identity protection and privacy management solutions to their employees, members and customers. The company’s innovative and user-friendly services help employers and partners offer a valuable benefit, enhance their brand, improve loyalty and generate revenue, while providing stakeholders enhanced security and peace of mind. InfoArmor was established in Scottsdale, Ariz., in 2007. For more information, visit infoarmor.com.
ID Analytics has long been a provider in deploying Identity Theft Risk Scores, or measuring a consumer’s risk of having their identity stolen, providing this score to Identity Theft Monitoring companies, as part of an overall solution. But due to the Lifelock acquisition, ID Analytics has discontinued this service. Enter Versium.
Versium, which has an established Fraud Risk Score, measuring the risk of an account being fraudulent at account opening, has evolved this technology to create a Consumer Identity Theft Risk Score. In testing the solution with ID Theft Monitoring companies, it has been found to be more effective than the ID Analytics solution.
“We are very pleased with the test results of our ID Risk Score as the score has proven to predict the risk of an individual getting their identity stolen at a higher rate than the competition”, said Chris Matty, CEO of Versium. “We are now deploying this score with ID Theft Monitoring companies as a valuable part of their solution to prevent Identity Theft for their customers. If a consumer knows they are at a higher risk of getting their identity stolen, they can take extra measures to prevent this from happening.”
Versium Partners With Scribe Software Making Its LifeData® & Predictive Analytics Scoring Services Available To More Than 1,200 Partners
Data technology company seamlessly integrates with Scribe Software’s APIs allowing LifeData and scores to be easily accessible from more than 50 enterprise applications such as CRM tools, marketing automation system and customer care databases
REDMOND, Wash. – August 11, 2014–Versium, a data technology company that operates a LifeData® predictive analytics scoring service, today announced its partnership with Scribe Software, an established global provider of data integration solutions that allow customer data to be easily transferred throughout different enterprise systems throughout an organization. Scribe Software’s enterprise partners will now have access to Versium’s LifeData and predictive analytics scoring services via Scribe’s API. Versium’s more than 400 billion LifeData attributes and predictive scores will be integrated into the cloud-based Scribe Online platform, making them easily accessible to all 12,000 of the company’s customers.
“As business intelligence and predictive analytics become more mainstream, business users require immediate access to actionable intelligence – this includes both enterprise data, as well as external data such as Versium’s LifeData,” said Scribe Software CEO Lou Guercia. “Manually collecting data from disparate systems is no longer feasible. Our new iPaaS capabilities make data integration easy and affordable for our growing partners working toward a common vision for the connected enterprise.”
How it Works
Versium’s proprietary LifeData predictive analytics scoring service is a compilation of information created by individuals as they interact in the real world, which companies typically have been unable to capture until now. Versium’s analytics platform combines a company’s proprietary enterprise data with LifeData to provide richer insights into behavior, and enable more accurate statistical and predictive models. The system outputs various predictive scores (similar to a credit score, but for marketing purposes) based on a desired business case and underlying ROI objective. LifeData insights and predictive scores can be accesses via real-time API query, or batch process, so that these insights can be built into existing enterprise applications (i.e. CRM solutions and marketing automation tools) to enable rapid access and use without the need for platform deployment and support.
“Customer-specific data intelligence is extremely powerful when an organization is able to place it in the hands of people who can act on it,” said Chris Matty, Versium’s CEO. Through our partnership with Scribe, enterprise customers will benefit from being able to seamlessly connect their vital business data with the insights contained in our LifeData and Predictive Scores. Being armed with this level of actionable intelligence provides companies with specific data to better maximize profits, mitigate risks and optimize consumer targeting, a significant competitive advantage.”
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.
About Scribe Software
Scribe is an established global provider of solutions that easily bring customer data anywhere it is needed – regardless of IT infrastructure. Scribe’s award-winning products help 12,000 customers and 1,200 partners use customer data – cloud-based, on-premise or a mix – to increase revenue, provide superior service, and create business value faster. Its easy-to-use, enterprise-ready solutions are backed by extensive support options and training, and service customers across a wide array of industries including financial services, life sciences, manufacturing, and media and entertainment companies. Follow Scribe on Twitter, Facebook, LinkedIn, and YouTube.
Illuminate Public Relations for Versium
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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.
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