Data as a Service
First Things First: How You Can Overcome the Top 8 Challenges of Generative AI
Generative Artificial Intelligence (GenAI) stands as a transformative force in the digital landscape, promising innovative solutions and creative approaches to data synthesis. However, GenAI faces its fair share of adoption hurdles. Organizations committed to leveraging generative AI must navigate through myriad challenges, ensuring both the solution efficacy and ethical application. Let’s delve into the top 8 challenges...
Garbage In, Garbage Out: Why Third-Party Data Sources Matter When Using Generative AI
In a recent LinkedIn post , data and technology transformation consultant Tommy Tang writes, “Generative AI has emerged as a potent tool across various domains, from content creation to bolstering decision support systems.” He warns, however, that “The efficacy of generative AI is intrinsically tied to the quality of its training data.” And therein lies the challenge, aptly summarized by the adage, “Garbage in, garbage...
Get Ahead or Left Behind: The Generative AI Trend & It’s Growing Role in Tomorrow’s Workplace
ChatGPT and Bard, DALL-E and Starryai: Generative AI (GenAI) tools are taking the world by storm, igniting conversations, and shaping future possibilities in ways we've only begun to explore. As the World Economic Forum notes, “After years of research, it appears that artificial intelligence (AI) is reaching a sort of tipping point, capturing the imaginations of everyone from students saving time on their essay writing...
Garbage In, Garbage Out: Why Third-Party Data Sources Matter When Using Generative AI
In a recent LinkedIn post , data and technology transformation consultant Tommy Tang writes, “Generative AI has emerged as a potent tool across various domains, from content creation to bolstering decision support systems.” He warns, however, that “The efficacy of generative AI is intrinsically tied to the quality of its training data.” And therein lies the challenge, aptly summarized by the adage, “Garbage in, garbage...
AI for Business: How to Capitalize on Generative AI to Enhance Decision-Making
The intersection of Artificial Intelligence (AI) and business pulses with potential, especially since generative AI (GenAI) has entered the picture. Google research scientist Oriol Vinyals notes, “Generative models are changing the way we think about machine intelligence and creativity, and have the potential to transform industries from media to finance to healthcare.” Of course, the insights you gain are only as good...
How Risk Managers Benefit from Using Quality Data
When it comes to the data used for predictive modeling and risk management, you can’t afford to leave anything to chance. Risk managers today have an ever-increasing number of AI applications and risk management tools to improve risk visibility and expedite their due diligence and risk monitoring processes. To monitor risk in the most valuable way, these tools and applications must have rapid access to a large quantity...
5 Ways Cloud-Based Data Platforms Elevate Operations and Profit
The landscape of business is evolving at an unprecedented pace, thanks in no small part to the accelerating development of technology. One of the most impactful shifts in recent years is the migration from on-premises data solutions to cloud-based data platforms. What was once a buzzword and a future prospect has now become an integral part of modern business strategies. So, what makes cloud-based data platforms so beneficial...
Your Guide to the Alternative Data Revolution in Cloud-Based Data Marketplaces
Data may seem as common as dirt these days, but harvesting insights from data is not without its challenges. According to Statista , for example, organizations across the globe report common problems with: 34% struggle with data discovery—where to find and access alternative data to enrich your analytics 35% face organizational silos make it difficult to cultivate and share meaningful insights 39% struggle with...
The Cost of Low-Quality Data for Decision Intelligence
In the quest to achieve unrivaled business growth, organizations show increasing interest in Decision Intelligence (DI) . Whether you use DI to augment, recommend, or automate decisions, the effectiveness of your DI endeavors heavily depends on the quality of data that powers it. As financial services and global businesses alike expand the use of DI, weeding out poor quality—within both internal and alternative data—isn...
The Cost of Low-Quality Data for Decision Intelligence
In the quest to achieve unrivaled business growth, organizations show increasing interest in Decision Intelligence (DI) . Whether you use DI to augment, recommend, or automate decisions, the effectiveness of your DI endeavors heavily depends on the quality of data that powers it. As financial services and global businesses alike expand the use of DI, weeding out poor quality—within both internal and alternative data—isn...
Decision Intelligence: What Is It and Why Alternative Data Makes a Difference
In today’s fast-paced world. the ability to make highly informed decisions in a timely manner can be the difference between the success or failure of your business. Particularly during times of uncertainty or market volatility, doubt can hold organizations back. And data overload can contribute to this doubt. So how do businesses ensure they do not fall behind the competition or consumer values? Increasingly, they are...
How Decision Intelligence technology powered by trusted and enriched data could transform how your company makes decisions
Decision-making is the most important task of any CEO, but many spend too long on decisions and still rely on ‘gut instinct’. Decision Intelligence technology is regarded as a solution to the growing complexity of corporate decision-making. Our new White Paper explains how some of the world’s biggest companies have used this emerging technology to transform their decision-making–and how data from Nexis® Solutions can...
Using Third-Party Data to Safeguard Your Reputation & Inform Decisions Across Your Entire Manufacturing Organization
“Any reinvigoration of US manufacturing will also require reinvention,” notes McKinsey & Company in its “ State of AI in 2022 ” report. The report goes on to explain that five years ago, manufacturers were seeing value from AI use in operations and risk management. Today, value creation is also being seen in marketing and sales, product and service development, strategy and corporate finance and supply chain management...
4 Uses for Text-Based Data that Turns Insurance Market Intelligence into Valuable Insights that Enhance Decisions Across Your Business
A McKinsey article on use of AI in the insurance industry calls data and analytics capabilities “table stakes” in the sector in Europe and North America. The article notes that “External data are the ‘fuel’ that is unlocking the value of artificial intelligence.” What types of text-based data can help you derive actionable insights? Current and historical news data and social commentary Market and industry data...
Wolfsberg Principles on anti-bribery and corruption for financial services
New Wolfsberg Principles warn global banks of the risk factors that require Enhanced Due Diligence on a wide range of data The Wolfsberg Principles are widely regarded as authoritative guidance for how financial institutions should respond to the rising risks of bribery and corruption. New guidance has recently been released for the first time in six years. We unpack its main recommendations of risk factors which should...
How Adverse Media & Other Text-Based Data Helps Financial Services Organizations Stay on Top of Reputational Risk
What is your reputation worth? While reputation can be difficult to quantify, a study by the World Economic Forum suggests that more than 25% of market value can be attributed to an organization’s reputation. Particularly in the financial service industry, reputation and trust go hand in hand. In the years following the global economic crisis of 2008, trust in the financial services crashed too, and it wasn’t until 2016...
How Can Enriched Data Help You Track Your Business KPIs
Whether you are looking at an exciting new business opportunity or a comprehensive strategy transformation, monitoring the performance of projects is crucial in today’s business world. But what's the best way to measure your goals to know the success of your projects? Identifying key performance indicators (KPIs) and tracking progress against them helps determine if performance expectations are being met. Fortunately...
4 Reasons for Integrating Third-Party Data in Financial Services Risk Management Workflows
Recent volatility in the financial services sector only reinforces how interconnected and complex global markets have become. Geopolitical and economic uncertainty, coupled with expanding regulation, makes navigating the turbulence even more challenging. Global consultancy EY notes that “Data has an increasingly important role within financial crime risk management.” To get ahead of the curve, financial institutions increasingly...
How Third-Party Data APIs Help Financial Services Organizations Keep a Competitive Edge
Could 2023 be the year the world rebounds from the 2020 pandemic? The answer is “yes”, according to Deloitte , which predicts that “2023 could be the year the ‘new normal’ fully comes into view. There will be opportunities to help define the future, one in which profits and purpose are inextricably linked. Finding and making the most of opportunities that emerge, however, will require data-driven insights. That’s where...
4 Crucial Ways that Third-Party Data APIs Can Help Financial Services Organizations Become More Risk Resilient
In 2021, McKinsey, in collaboration with the Federation of European Risk Management Associations (FERMA), conducted a survey on resilience behavior and organizational management. Noting a “striking difference between corporates and financial services organizations, the research revealed a much higher percentage of staff allocated to risk and compliance within financial services than corporate entities. The reason? The...
Using Data on Trends, Technology and Executives To Improve Financial Services
The Financial Services industry seems to be in a constant state of change. Just when 2022’s lows and highs feel like a familiar cycle, 2023 comes along and brings a new whirlwind. Between technological developments, recession and inflation concerns, heightened increases of digital platforms and the recent swing of massive company lay-offs, there’s a lot to keep track of. As experts in data services, Nexis is always...
What are the Benefits of Adding ESG News and Other Third-Party Data to Your Investment Analytics?
In recent years, financial services organizations have faced increased pressure to consider environmental, social, and governance (ESG) factors in their investment portfolios and strategies. It isn’t the first time. In the 1970’s, anti-war sentiment and concern for the environment sprouted a movement, but it languished for years. In the mid-2000’s, the United Nations began prioritizing ESG and commitments to ESG by major...
5 Essential Types of Third-Party Data the Manufacturers Can Use Today to Fuel Innovation & Growth Tomorrow
Did you know that manufacturing leaders are 2.5 times more likely to put data and technology investments ahead of cost reduction efforts? There’s a good reason: Making data-driven decisions—supported by artificial intelligence applications—can help manufacturers realize efficiencies that deliver cost savings. But manufacturers need more than internal data to achieve real value; third-party data provides complementary...
8 Ways to Use Alternative Data to Improve Your Financial and Data Modeling
It’s true. When you gain access to a wealth of clean and accurate alternative data, you can greatly improve your financial modeling and predictive analytics. But before we get into the how , let’s back up a second and define the what . Alternative data is content that’s generated in numerous ways. From sensors that capture geo-location data and satellites that take snapshots of weather patterns to news and social media...
4 Ways to Take Advantage of Our APIs for Fast Access to Curated, Relevant Datasets
As an analyst, your results are only as good as your data. And, the higher-quality API access you have, the better your research will be. APIs are all about access—and we provide multiple API options that allow you to embed the same high-quality data that legal and business professionals have relied on for more than 45 years. With Nexis Data as a Service (DaaS) , you can use any one of our LexisNexis APIs to access...