Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 6)

Sramana Mitra: If you look at an entrepreneur working in Houston, for example, there is a strong likelihood that that entrepreneur may have also [gotten involved] in the oil & gas industry, whereas somebody working in San Francisco may not.

Lars Olrik: What is interesting to see, if you look at healthcare, for example, is all the major players are recognizing they can’t develop new technologies fast enough. They have access to all the hardware. >>>

Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 5)

Sramana Mitra: That industry is the earliest adaptor of technology.

Joanne Kinsella: Yes. It is interesting that you bring that up. From a cultural standpoint, I hear Lars talk about healthcare and oil & gas, and I think about representing technology to Wall Street for the last 10 years and how completely different those different industries are. >>>

Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 4)

Sramana Mitra: As you are saying, this is an industry that is rather old school, but it is now learning to leverage technology in meaningful ways.

Lars Olrick: They have to. They are driven by government and the depopulation and re-skilling of the older generation. They have to take bold steps and use technology in a very different way. If you look at healthcare, it is really interesting there. >>>

Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 3)

Sramana Mitra: So the infrastructure is there, but the heuristics are different from domain to domain. You kind of have to set these heuristics and rules on top of that.

Lars Olrik: That is correct. That is what I call the 20% to 30% rule. >>>

Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 2)

Sramana Mitra: In this use case you are primarily helping to manage the equipment used in drilling.

Lars Olrik: Yes. We are using vast volumes of data and we allow that data to be converted into actionable results that mitigate situations that can lead to a catastrophe.

SM: That is cool. Let’s have a look at the healthcare use case. >>>

Thought Leaders in Big Data: Interview with Patrick Taylor, CEO of Oversight Systems (Part 5)

Sramana Mitra: That is very difficult. In one domain you have all the heuristics. But the minute you switch domains, you don’t have that knowledge.

Patrick Taylor: That is why I am saying who gets us into those domains is someone else. They are doing the sales function and the heuristics function. I think there is an interesting set of use cases that will emerge more and more. A lot of what we see in big data and analytics is what we call the discovery process, where I am trying to find some new “aha.” >>>

Thought Leaders in Big Data: Interview with Lars Olrik, Group CEO of Verdande, and Jo Kinsella, CEO of Financial Services of Verdande (Part 1)

Lars Olrik is the group chief executive officer of Verdande, and Joanne Kinsella is the company’s chief executive officer of financial services. The company specializes in early problem detection and prevention, driving its insights from data applying big data technologies. In this interview, Joanne and Lars talk about the oil & gas, healthcare, and financial services sectors and how Verdande helps companies in these industries prevent all kinds of problems from happening by comparing current and historical data. Furthermore, they see the potential to work with entrepreneurs who are building on top of their platform.

Sramana Mitra: Let’s start by setting the context of your company. Tell us about the company, what customers you cater to, and what problems you solve.

Lars Olrik: As group CEO, I will deal with the company’s profile and what we do. And on the use cases, Jo will take care of the financial services side of the business. >>>

Thought Leaders in Big Data: Interview with Patrick Taylor, CEO of Oversight Systems (Part 4)

Sramana Mitra: Is this something that companies go out and look for? Is it something that all large MNCs put in place – some sort of fraud monitoring systems?

Patrick Taylor: They don’t all have one in place now.

SM: So your customers are all large MNCs?

PT: Our customers are mostly large Fortune 1000 government agency type organizations. Not all of it is fraud, though. Many are record reconciliation. We do those kinds of problems for a number of companies as well. Often the Fraud and Corrupt Practices Act is in play, but sometimes it isn’t exactly fraud, it is inappropriate behavior. >>>