Transformed Data Still Needs to Be Enriched
Once sensitive data is safely transformed to expand its usage, it is still in a raw form. It needs to be enhanced or enriched to derive the unique insights needed to drive innovation or analysis. Facteus’ decade-long experience in ‘monetizing’ sensitive data with deep data enrichment services can help you truly unlock the full potential of your data.
Data Enrichment is the Fuel Behind ML/AI
Machine Learning (ML) and Artificial Intelligence (AI) need not only a high quantity of data, but more importantly, the quality of the data enables you to uncover those hidden insights or prove out that new innovation. Facteus has partnered with thousands of financial institutions across a diverse set of transaction data (credit cards, debit cards, prepaid, HSA/FSA, corporate, etc) to clean, enhance, and enrich data sets for use in analytics, fraud prevention, loyalty programs, and data monetization.
Safely Execute on a Data Monetization Strategy
Data monetization is a huge revenue opportunity for financial services organizations that is misunderstood and underutilized. Whether it’s internally (i.e. minimize risk, build new products or deliver better experiences) or externally (i.e. share data with trusted third parties for product innovation or generate a new revenue stream), Facteus’ Mimic synthetic data engine and data enrichment services help you safely unlock those hidden opportunities. Data monetization and compliance can and do co-exist.View the Road Map to Safe Data Monetization
Data Enrichment Use Cases
Add a little more fuel to your innovation engine through enhancing the data you already own or integrating third-party data into your ML algorithms or AI models.
Drive deeper insights from your data through enhanced cleaning, tagging, or categorization of your data assets. Your analytics are only as good as the quality of the data behind them.
You have unique data, but not sure how to extract value from it. With Facteus’ data enrichment services and data monetization platform you can find those hidden insights or start on your data monetization journey.
Facteus Data Enrichment Services
Data Cleansing & Enhancement
Facteus has worked with thousands of financial institutions’ sensitive data to extract it from siloed environments, transform it into synthetic data and then clean and enhance it for use across many different audiences. Ensuring the data is organized, clean, duplicate fields are removed, and the data is prepped for its specific use case is all part of the Facteus DNA.Learn More About Mimic™ >
Entity Tagging & Dimension Expansion
Understanding the insights and trends within data takes an extra layer of expertise. It’s not enough to just clean and organize the data; aligning transactions to a specific merchant, company or other entity increases the value of that data to you and other organizations. Adding in additional dimensions like online vs. offline, location, demographics, or product information enhance that value even further.Learn More About Transaction Data Insights >
Panel Construction & Integration
Productizing data assets for consumption from trusted third parties is at the heart of Facteus’ data enrichment services. Facteus data experts understand how to evaluate, develop, backtest, or integrate data sets together to derive the most value and the deepest, most unique insights.Learn More About Quantamatics >
COVID and the State of the Consumer Report
Facteus Consumer Spending Report: The Experience Economy Plots Rebound. Prior to the pandemic, consumers were shifting their spending habits to prioritize experiences over “things.” The question facing both investors and corporate decision makers is if the previous demand and secular shift in spending toward experiences can pick up where it left off in 2020. As the economy re-opens, all signs suggest consumers are ready to pick up where they left off.
Road Map to Safe Data Monetization
In today’s digital world, there are mountains of data that can be leveraged to drive business benefits. However, how can you unlock the power and value of financial data while ensuring privacy is protected? Facteus already safely and securely monetizes data for more than 1,000 financial institutions and has outlined the lessons learned in a “Road Map to Safe Data Monetization.”