Cortera, a leading name in risk management and business-to-business analytics, has come up with Traits, a tool that generates statistical models from the given data by identifying patterns across a group so that you don’t need to think of what model to use. Not only does it alter the complexity altogether, but also ensures that intervention of data scientists becomes even more minimal. In short, once you upload files of data from various groups connected through a common result, you get the modelling necessary within minutes. Data types ranging from loan performance to promotional success, customer profitability etc. can be used to achieve wonderful modelling.
What does the tool do?
The tool is basically an equation generator that locates the decisive factors that the companies can share and then goes on to create the algorithm that will effectively describe the shared properties. Thus, not only do you get the model but also get to know how accurate it is and how well it will perform in the world of predictive analytics. Of course, the greater is the degree of sharing, the greater will be the accuracy. It provides a unique opportunity to unearth how degrees of data sharing can impact the predictability.
An effort to empower business people
Business people are not analysts and hence, their dependence on data scientists for modelling is paramount given the need of predictive analytics. However, Traits surely changes the equation as business people can now try their hands in extremely sophisticated analytical processes without the know-how of the process. It also saves a lot of time for companies which can then be devoted towards increasing productivity as you know the degree of accuracy of your insight too. In fact, if there are too many variables, traits can be used to narrow your choices.
Trait’s structure and possibilities
Traits’ diversified usage surely empowers various sectors as it is an effective device for tuning performance of data. It is an essential intervention in the world of analytics which itself is rapidly expanding to say the least. Trait will ensure that technical incompetency hardly matters so that more and more people can bring their brain into the world of analytics. The Traits model will further serve as a library which can be reused by other users while checking other input files. So, it is extremely useful as a database too so that you know the evolution of the models.