25 Sep

Warwick Analytics launch disruptive new AI Text Analytics

Warwick Analytics has launched a disruptive new approach to text analytics. ‘MaaS’ (Models-as-a-Service) is a quick, easy and low-cost way to apply AI to text to get powerful automated insight.

MaaS provides a shortcut to getting started with text analytics AI. Existing models are provided for specific industries and use cases which can be fine-tuned or used standalone.

Until now ‘AI-based Text Analytics’, the use of machine learning to classify text, has been cited as an expensive solution requiring data scientists to craft bespoke models for datasets.

Warwick Analytics is best known for its AI text platform PrediCX that can generate accurate machine learning models without the need for a data scientist. It is this ‘human-in-the-loop’ technology that has enabled them to create MaaS, a disruptively low-cost AI solution. For as little as a few hundred dollars per month, a model can generate predictive insight that other analytics costing ten times the price can’t deliver.

Models are available across multiple industries such as restaurants, hotels, leisure, banking, insurance, retail, ecommerce, CPG, transportation, manufacturing, utilities and healthcare. Use cases for each industry range from identifying root causes of churn and loyalty, predicting sales of new products, predicting marketing effectiveness, finding root causes of brand equity, as well as automation use cases for CRM and helpdesks. The datasets can vary too from social media posts and reviews to surveys and CRM notes and contacts.

Warwick Analytics will continue to expand the range of models and is happy to ‘build for free’ for new customers who have new challenges or datasets.

To demonstrate the effectiveness of MaaS, Warwick applied it to publicly available data in different industries to identify key insight and savings. In one example MaaS found one leading UK telco (O2) could automate 45% of the Tweets, chats and direct messages into its contact center, as well as identifying easily-addressable root causes of churn and customer purchase difficulties worth millions of pounds per year. In another example MaaS looked at addressable root causes of churn for Expedia and the savings were estimated at over $5m per year. When looking at TripAdvisor reviews for TGI Fridays churn and loyalty root causes, not previously found by one of the other leading text analytics provider, were identified. The number of churners identified was 10 times higher with a much higher precision rate of 88% versus 54%.

Dan Somers, the CEO of Warwick Analytics comments: “We are delighted to launch MaaS. Not only is it exciting to bring tangible financial benefits to customers with actionable analytics and automation, but it is a privilege to help disrupt the market in a positive way, removing some of the ivory towers of data science and smashing some of the myths and claims. Democratizing data science means that data scientists still do the ultra-cool stuff and get the credit they deserve, whilst for everyone else in both large enterprise and smaller companies, they get transparent, powerful, cost-effective tools to make their businesses customers happier and their businesses more profitable.”

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12 Apr

Warwick Analytics research finds human-in-the-loop validation critical for chatbot owners

Our independent survey of over 500 chatbot owners and developers reveals the majority are not satisfied with the performance of their chatbots and say human validation is key.

New research from text analytics specialists Warwick Analytics shows that 59% of businesses who have a chatbot are unsatisfied with its performance.

551 professionals involved in the development or management of chatbots were surveyed by Warwick Analytics.

When discussing the technical challenges respondents faced trying to improve their own chatbots, the most common issues were improving containment rates (90%), reducing errors (83%), and developing the responses for the chatbot (79%).

More significantly, an overwhelming 93% believed that human validation and/or curation was important to maintain and improve the performance of their chatbots.

Dan Somers, CEO of Warwick Analytics says: “Achieving the right level of human-in-the-loop input is key for chatbot owners and managers. Human validation is required for accuracy and improvement but if too much is required then a business may as well have a human service desk. It’s all about finding the right technology that minimises the human intervention required but still increases accuracy. Our software PrediCX does exactly that.”

In addition, 21% of respondents who were yet to deploy a chatbot said it was because the performance of chatbots wasn’t acceptable in their opinion.

Warwick Analytics provides machine learning technology to help maintain and improve chatbots using a human-in-the-loop platform called PrediCX accessible via an API.

 

Download the full report for free here

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08 Jan

Warwick Analytics shortlisted for Accenture’s FinTech Innovation Lab London to Develop Solutions for Wave of Regulatory Challenges in 2018

Warwick Analytics has been announced as one of 20 global RegTechs, start-ups offering technology solutions for financial firms’ regulatory challenges, that will join Accenture’s sixth FinTech Innovation Lab London.

During the three-month fintech accelerator programme, which runs Jan. 2 – Mar. 22, Warwick Analytics and other fintech start-ups will be partnered with executives from banks and insurers to fine-tune and develop their technologies and business models.

Accenture launched the RegTech stream in response to an increased pool of start-ups offering solutions for compliance in a year in which the financial services industry faces unprecedented levels of regulation. Among the new regulations this year are the revised Payments Services Directive (PSD2), which requires banks to make customer data available to third parties, with the customer’s consent; the General Data Protection Regulation (GDPR); and the Markets in Financial Instruments Directive (MiFID II), which went into effect last week – all before structural banking reforms, with ringfencing, are implemented in January 2019.

The 20 companies on this year’s shortlist of innovative startups come from the U.K., Israel, Croatia and South Korea, offering technology solutions for many pressing business issues, including:

  • aiding and automating compliance processes, using analytics and robotics;
  • detecting financial crime and fraud, using artificial intelligence;
  • helping insurers predict and price cyber risk;
  • ensuring the security of payments and digital identity through blockchain solutions; and
  • developing financial management platforms across connected devices.

“The risk of non-compliance is what keeps financial boards awake at night,” said Julian Skan, executive sponsor of Accenture’s Fintech Innovation Lab London. “As the drive for better customer experience and lower unit costs pushes data into the cloud, the price of getting things wrong has risen. It’s a pivotal moment for technology solutions to help banks and insurers not just to meet the needs of regulators, but make the most of the digital economy.

“Above all, financial firms know they need to improve their productivity, particularly in the UK economy, and innovations can be the lightbulb moment for banks and insurers to operate more effectively and deliver better results. This year’s cohorts have shown how start-ups are learning to focus on problems that can be solved and to understand what they need to learn from incumbents who are facing the challenges of meeting digital customer expectations with legacy infrastructure.”

More than 270 start-ups from 42 countries applied to this year’s program, with the shortlisted start-ups being mentored by the program’s biggest-ever cohort of financial services executives.

Partners come from over 32 financial institutions including: AIB, AXA, BAML, Citi, Credit Suisse, Direct Line, DNB, Ergo, Goldman Sachs, HSBC, Intesa Sanpaolo, JPMC, Legal and General, Lloyds Banking Group, LV=, Morgan Stanley, MS Amlin, Nationwide, Nordea, OP, Post Office Management Service, RBS, RSA, Santander, Societe Generale, Towergate, TSB, UBI, UBS, XL Catlin, Zurich.

Dan Zinkin, a managing director at JP Morgan Chase, said, “Financial firms have an important role in collaborating with start-ups to develop new technologies that can transform our industry. We must keep ahead of a rapidly changing world and keep striving to innovate for our customers and improving our services. I am thrilled to be a part of a program dedicated to bringing financial firms and entrepreneurs together to navigate the future of the industry.”

Eight of the 20 shortlisted startups will go on to present to venture capitalists and financial-industry executives at the program’s Graduation Day on March 22.

Accenture and a dozen major banks launched the FinTech Innovation Lab London in 2012, with support from the city’s mayor and other government bodies. Since its launch, 56 start-ups have participated in the London Lab, securing more than 50 contracts with global banks and creating more than 800 jobs.

The London Lab is modelled on a similar program that Accenture co-founded in 2010 with the Partnership Fund for New York City, the US$150 million investment arm of the Partnership for New York City. In 2014, Accenture launched FinTech Innovation Labs in Asia-Pacific and Dublin. Globally, the Labs’ alumni companies have raised more than US$863 million in financing after participating in the program.

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28 Jul

Warwick Analytics chosen by Hello Tomorrow as one of the world’s Top 500 deep-tech startups

We are delighted to announce that we have been chosen by Hello Tomorrow as one of the world’s Top 500 Deep-tech startups.

The Hello Tomorrow Challenge is a different kind of startup competition that was designed to answer the needs of deep tech entrepreneurs. The best 50 start ups are selected from 10 different industries. Warwick Analytics was selected for the Data and AI industry.

We will attend the Hello Tomorrow Global Summit on October 26th & 27th 2017 in Paris where the winners will be announced. Over 3,000 specially selected attendees made up of deep-tech enablers, such as entrepreneurs, innovators, academics, investors and corporate executives, will be at the invite-only Global Summit. For two days, the venue will become a nexus of ideas and innovations, empowering entrepreneurs to carry out a visionary, and better, tomorrow.

Dan Somers, CEO at Warwick Analytics says: “It is a great honour to be selected by such a credible organisation and event. It will be a brilliant opportunity to showcase our predictive analytics for voice of customer data to hundreds of investors and executives.”

You can find out more and register to attend here: https://hello-tomorrow.org/

 

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22 May

Warwick Analytics to show automated predictive analytics for VoC data at Customer Experience World

Warwick Analytics will be showing their latest PrediCX software for the first time at Customer Experience World 2017. PrediCX automatically generates actionable insight from both structured data and the unstructured Voice of Customer (“VoC”) data such as complaints, reviews, surveys, enquiries and social media.

Customer experience executives need to constantly understand how things are changing, in new or existing products and services as well as changes in customer expectations and competition. Current VoC analytics can provide some directional capability such as satisfaction scores and topic trends, but quantifying the detailed topics, let alone finding their predictive factors was not previously possible.

PrediCX changes this. Its unique capability is a live early warning system of VoC insight, classified in a consistent and accurate way. As well as quantifying what is happening in the business and the sentiment of those topics, PrediCX can generate further predictive models to identify the drivers of those insights and their financial impact. It helps operational users quickly prioritise and solve issues, and helps CX and marketing executives identify revenue and cost-saving opportunities as well as take strategic decisions regarding investment and customer journey enhancements.

PrediCX overcomes the many challenges associated with analysing VoC data. Whilst there are plenty of customer experience solutions with sophisticated text analytics, classifying the various complex topics that customers talk about in a consistent and reliable way requires intensive human intervention. This typically means that there are analysts whose job it is to classify data, either by building dictionaries and rules with key terms, or by manually classifying for machine learning. Both techniques are laborious, can be quickly out-of-date, and can miss new issues if new terminology isn’t pre-empted.

PrediCX features two key technologies developed over a decade of academic research. Firstly AIR (Automated Information Retrieval) extracts all of the possible topics and associated sentiment from the raw data. Secondly OL (Optimized Learning) takes this rich output from AIR and uses it to generate predictive models. Crucially, OL ‘asks’ users for specific input for validation where it needs it to optimise performance.

As a result, PrediCX can automatically classify Voice of Customer data to a high degree of accuracy with minimal user input. And because it’s accessed via an API (cloud or on-premise) it can be easily deployed and operationalized. As well as early warning, use cases such as handling complaints, queries and even warranty and insurance claims can also be automated to an optimal degree. It can also be applied to internal stakeholder voice such as technicians and front-line staff.

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26 Apr

Warwick Analytics shortlisted for International Auto Finance Network Award

We are delighted that Warwick Analytics has been shortlisted for an International Auto Finance Network (IAFN) Award, the winners of which will be announced in London on May 23rd.

The IAFN Awards celebrate excellence and innovation within the automotive leasing and lending industries.

Organisations and individuals may be nominated for achievements in operations management, leadership, customer service, competitive performance, or innovation.

Warwick Analytics was nominated for its’ automated predictive analytics software that enables the auto industry to automatically transform data to improve their predictive maintenance and warranty capabilities.

The 2017 Awards will be announced at this year’s IAFN awards dinner on 23 May 2017 at the Hilton Tower Bridge. This takes place in the evening after the IAFN Conference.

 

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31 Mar

Warwick Analytics to Chair Automotive Warranties, Munich

Warwick Analytics is delighted to be announced as Chair of the 5th Annual Automotive Warranties, 16th & 17th May, Munich, Germany.

Every year this event brings together the key players in the automotive warranty value chain including OEM’s, suppliers, dealers and third party warranty providers, that are creating warranty programmes and practices that drive customer satisfaction and continuous improvement.

The goal is to provide businesses with insights to help improve their warranty programs and achieve customer satisfaction while generating business revenue.

Through the best mixture of strategic insights, case studies, workshops and panel discussions you will walk away with clear ideas on how to ensure continuous product improvement and stay ahead of the competition in today’s environment. Remember, in this environment customer satisfaction and cost control are the key to success.

Key topics this year include:

•    New approaches to warranties for modern vehicles, including connected cars and electric vehicles
•    Improved relationships along the warranty stakeholder value chain
•    Ways to reduce claim fraud through optimized processes
•    Using warranty, goodwill and extended warranty as a tool to satisfy your customer
•    Strategic insights to manage and prevent recall
•    Finding the best approaches for warranty audits
•    Coping with new global regulations and EU law

 

See the full Automotive Warranties event overview with details on how to book here.

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12 Jan

Warwick Analytics to present at CISCO Live Berlin

Warwick Analytics will be presenting at CISCO Live 2017 in Berlin, 20-24th February.

Cisco Live 2017, Berlin is the destination for the education and inspiration you need to thrive in the world of digital business. Join thousands of technology innovators for a transformational experience that includes today’s IT visionary thought leaders, more than 600 education sessions, Cisco’s top partners, and numerous opportunities to build the connections that will fuel your personal and professional growth.

Cisco Live is organized into distinct programs enabling you to build a personalized agenda mapped to your individual specializations and needs. Specific content is tailored to all audience types, from technical education for Engineers through to IT vision and thought leadership for IT Directors.

http://www.ciscolive.com/

 

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06 Dec

Warwick Analytics opens Research and Development office in Lisbon

maat-lisboaWarwick Analytics has opened a new office in Lisbon, Portugal which will focus on the development of new software and technology for the predictive analytics specialists.

The new office signifies the expansion of the firm who continue to disrupt the predictive analytics space, working with enterprise companies in manufacturing and services sectors, addressing issues from preventing products from failing, through to predicting the factors which drive a positive customer experience.

Dan Somers, CEO of Warwick Analytics adds: “We are a fast-growing technology company developing the latest cutting-edge analytics. Lisbon has an outstanding talent pool in experienced software developers so it was a natural choice to expand there.”

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27 Sep

Warwick Analytics selected by BMW Financial Services to join Innovation Lab

Warwick Analytics is one of the five start-ups selected to join the BMW Group Financial Services Innovation Lab, the first financial technology business ‘incubator’ in the automotive sector.

The five finalists present a range of innovations that could revolutionise how consumers own and insure cars in the future, from opening up entirely new types of leases to consumers, through to tackling the barriers young drivers face.

bmwfsinnovationlab2016_w268Mike Dennett, chief executive BMW Group Financial Services, said: “Despite being vital for many drivers to access vehicles, the auto-finance sector has failed to innovate in the same way that most other areas of the automotive industry have in recent years.

“Our industry is ripe for disruption and each start-up we’ve selected to enter the Innovation Lab offers the potential to change how thousands of consumers gain access to and use vehicles, and I’m confident that our support will help us both work towards this goal.”

Warwick Analytics was selected by a panel of BMW Group Financial Services representatives following an intense pitch day this month.

Warwick Analytics will receive access to BMW Group Financial Services, in order to support innovation and fast track the growth of their business.

This includes:

·      Dedicated office space at the BMW Group Financial Services head office in Farnborough

·      Mentorship from members of the business’s senior leadership

·      Product validation and testing opportunities

·      Access to investors at corporate innovation specialist L Marks

·      First class education programme based on the ‘disciplined entrepreneurship’ method from MIT.

Stuart Marks, technology entrepreneur and partner of the Innovation Lab, said: “Every start-up that attended the pitch day presented a new idea for changing automotive finance, which meant that selecting only five to participate was a difficult challenge.

“However, we’re certain we’ve selected five strong companies who will benefit tremendously from being members of the Innovation Lab – it’ll be thrilling to watch them develop over the next ten weeks.”

The Innovation Lab will officially launch October 3, run for 10 weeks, and close with a demonstration day on December 8.

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