Data is changing our world and the way we live at an unprecedented rate, Experian’s 2020 Global Data Management report says "85% of organisations see data as their most valuable asset". The amount of data collected, stored and analysed daily is increasing exponentially, and technologies and storage capacities are becoming more advanced year by year. IDCs Data Age report forecasts 175 Zettabytes of data by 2025, if this was stored on DVDs, the stack of DVDs would circle Earth 222 times.However, data has no value unless information can be extracted and transformed into knowledge. Data Analytics uncovers meaningful and useful insights by discovering relationships within data, detecting patterns, and most importantly extracting insight.
We are thrilled to be participating in Data Pitch, an open innovation programme that helps start-ups and SMEs innovate with data. On the Data Pitch Accelerator, Luna Connect applied machine learning models to automate lending for SMEs across the UK and Ireland, therefore providing quicker lending decisions.