Analytics, modeling, and data management has become a multibillion-dollar industry. Worldwide revenues for big data analytics—including predictive analytics and consumer scoring—is forecast to grow by nearly 450% to reach $68.09 billion in revenues by 2025.
Demand for tools to navigate the coronavirus pandemic has pushed applications of predictive analytics and consumer scoring further than what was previously possible or perhaps socially accepted.
For example, aggregate telco data is being used to report on population mobility during lockdowns, and landlords are sharing data with consumer scoring agencies about tenants’ likelihood to pay rent or flag potential evictions.
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