You donвЂ™t know very well what you donвЂ™t understand, since the old saying goes.
But in the chronilogical age of Big Data, you merely canвЂ™t manage to shrug down exactly exactly exactly what Donald Rumsfeld famously called вЂњunknown unknownsвЂќ. In a high-risk, high-reward company like online financing, incomplete information quickly sets you at a drawback вЂ“ as well as your company in genuine difficulty.
WhatвЂ™s more, if information that may make a big difference exists, someplace, you can easily bet your daily life somebody else is extracting understanding and value from this. If that individual will be your direct competitor, you might be losing clients and share of the market.
ThatвЂ™s why the Federal ReserveвЂ™s declaration on utilizing data that are alternative online lending, released earlier in the day this month, has triggered a stir.
For organizations which have already expanded their information perspectives, it absolutely was a reminder by using energy comes duty. [Read more…]