Big data is only as powerful as the insights that can be extrapolated from it. That’s why, here at NCS Analytics, we are always busy making sure that the alerts we deliver to our clients are as accurate and meaningful as possible. Millions of data points are distilled down into the processes which create every one of our alerts. Access to larger, more complete datasets allows us to understand better the real-life procedures and actions that create the data. For example, retail markets are extremely complex and require a vast amount of data to accurately model.
Purchasing a cup of coffee may seem like a simple transaction, but the conditions and implications of that single purchase could be massive. Was the price of the cup of coffee irregularly high due to market demand, the city where the coffee was purchased, the tendencies of the specific coffee shop, or other items purchased at that coffee shop that day? Many factors could be contributing to the price of that single cup of coffee.
It is important to consider each purchase as one of an extensive, interconnected system. NCS uses vast datasets to dial in our alerts, making them as accurate as possible. We model retail markets, connecting the dots between each individual transaction to build a clear picture of what makes sense. Transactions that don’t make sense within the market where they occur, generate alerts.
