Keynote at Finance Forum Summit
Highlights Pattern Management
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Traditional financial institutions now face a serious challenge from on-line brokerage firms that are poised to aggressively sell new products ranging from insurance to mutual funds. Success in this battle for market-share heavily relies on the data based technologies that provide an edge in customer acquisition, retention and cross-selling. The Finance Forum Summit on Data Mining for Financial Services in Chicago on November 16, 1998 is THE venue for the discussion of the latest technical advances in this area.
The Keynote Address for the summit is being delivered by the internationally recognized authority in this field, Dr. Kamran Parsaye, CEO of Information Discovery, Inc. In the Keynote Address Dr. Parsaye will introduce a fundamentally new technology and methodology based on "pattern management" rather than data management. This has significant implications for on-line relationship management within the financial services industry. With pattern management, business users deal with patterns as the basic tokens of the information system moving far beyond the basic facilities provided by data management systems.
Traditionally, most financial organizations have kept track of their data in databases. Pattern management now enables these institutions to use a central repository to also keep track of their "financial patterns." A Pattern Warehouse(TM) is a repository that holds historical patterns rather than historical data. With it, almost all the relevant patterns in the data are found beforehand, and stored for use by business users such as marketing analysts, product managers, etc. Business users get the interesting patterns as they query the Pattern Warehouse(TM) with PQL: The Pattern Query Language(TM) which does for decision support what SQL does for the databases. Business users just click on a browser-based graphic user interface to retrieve patterns on the intranet. They can begin to access knowledge immediately without lengthy training sessions or analytical know-how.
For more information on the Finance Forum please visit http://www.iqpc.com , or call (800) 882-8684. For more information on Information Discovery, Inc. please visit http://www.datamining.com