Open for Business: Leveraging Open Data to Gain Advantage on the Competition
Speaker(s):
Brandon Purcell
Duration: 120 minutes
Track: Analyze & Interpret
Recently, data has become the new energy source of some of the world’s largest organizations. While heavy emphasis has been placed on data collected from internal company sources, open data—data from governmental sources that is publicly available-- provides an additional boost to uncover key competitive insights, changes in market share, compliance risks, growth opportunities and more. Based on Beyond the Arc’s on-going analysis of open data sources, such as the Home Mortgage Disclosure Act (HMDA), Brandon Purcell will provide his data science expertise on the methods businesses should adopt to operationalize open data, rather than ignoring a potential goldmine of information. Real-world application examples will include:
• Mining the Consumer Financial Protection Bureau database to prevent customer complaints
• Leveraging the Home Mortgage Disclosure Act database for competitive analysis
• Integrating open data with internal data sources and social media. Relevant technologies: R, Excel