Scott Zoldi: We’ve developed, since the year 1992, technology that allows us to do that real time assessment of fraud risk using technologies like Storm, NOSql so that we can persist data in a summarised way and retrieve it very efficiently. That is one of the major areas for FICO and many of the products that we differentiate in is having analytics that run at very low latency and very high throughput to deal with the velocity of big data.
Sramana Mitra: I’m still trying to take this conversation in a slightly more use case-oriented way. Take what you described in terms of the technology and put in the context of a consumer use case and flip it around and show us how that happens. I’ll lead you into a use case that I encounter often. I travel quite a bit for pleasure. >>>
Sramana Mitra: What happens next in the story?
Shane Evans: I was quite enjoying my time there. It turned into more of a big company. Once again, I found myself yearning for something that was a little bit different. I think it was late 2004 when I quit. During my time there, I had focused on some difficult technical challenging tasks that I was interested in. There were some constraints around having a lot of traffic on the website.
I started doing some consulting work with some of my friends. These are two friends who are really good engineers. We focused on challenges with scaling. We started working on what would now be called Big Data or data science. At that time, it didn’t have a name. It was also interesting for me that we had some initial contracts in London. After maybe half a year, we started getting work outside of London. >>>
According to an AT Kearney report, global e-commerce sales are expected to grow from $840 million in 2014 to $1.5 trillion in 2018. US, China, UK, and Japan are some of the most attractive e-commerce markets due to their size, consumer behavior, and infrastructure. These factors have also helped Japan’s Mercari to make it to the Billion Dollar Unicorn Club. >>>
Most large organizations are facing the challenge of a workforce that’s gotten into a routine, a rhythm, and is not thinking outside the box. There is no excitement. There isn’t enough creative energy on a day-to-day basis, and there’s no methodology to inculcate such energy in a systematic way.
I want to call out another specific point from my previous article, Corporate Innovation Management: A Methodology Discussion, that addresses this issue. >>>
Have you noticed that your credit card sometimes declines transactions or flags fraud alerts? This conversation will help you understand the backstory of that workflow and potentially trigger other ideas in that domain.
Sramana Mitra: Let’s start with introducing our audience to yourself as well as to FICO.
Scott Zoldi: I’m the Chief Analyst Officer at FICO. I’ve been with FICO for 17 years. Today I have responsibility for all the analytics products and technologies that we use within our products. FICO, as a company, is 60 years old, and is well known for the analytics that we deliver to make better decisions for companies. The main thing that we offer is the FICO score. It’s a score that’s used in lending decisions as well as fraud detection. >>>
Shane has built a 140-people virtual team-based business from Ireland. Very interesting view into a different part of the world.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Shane Evans: I was actually born in the UK. Both of my parents worked at Heathrow. My father is British but my mother was Irish. I think their involvement and love for travel had an impact on me. I came to Ireland when I was two years old and that’s where I grew up.
Sramana Mitra: What was your educational process like? >>>
i-Human Patients, Inc. is a cloud-based e-learning company that is focused on rapidly developing and evaluating critical cognitive competencies in healthcare students and practitioners. Its main value proposition is that it simulates encounters with patients in order to teach users how to quickly, accurately, and cost-effectively assess and diagnose patients.
As someone who is a prolific writer, I happen to respect good writing.
These days, however, writings skills are not generating much by way of compensation. Journalism, for instance, a profession that was a good livelihood generator for writers, is an imploding industry.
Against that backdrop, here is a startup idea that could become a good earning mechanism for writers, while not getting run over by the Media industry’s existential crisis.
Here, I am thinking of writers becoming affiliates of a specific genre of e-commerce merchants.