Information Alchemy
Wednesday, May 23rd, 2001 Fraud TechnologyNames, dates, spouses, jobs, cars, medical history, income-these are just a few of the things you know about your customers. The question is, once you have access to this and all of their other data, what are you going to do with them? One of the challenges of collecting all these tidbits is that data are just data until they‘re gathered, cleansed, and made available for some kind of statistical analysis. Only then will data become information. And even then, it‘s not useful information until you decide what to do with it. Drowning in Data "There are tons of data collection points," said Alan Missroon, vice-president of marketing for CorVu Corporation, a provider of e-business intelligence services. "Just because the data are there and you can collect them doesn‘t mean they‘re relevant to your business."
