Going all out to create any kind of platform like Facebook, Credit Karma, Robin Hood, or Revenue.AI is about as sophisticated of a project as any business could take on. It means bringing together numerous technologies, from the individual software features, the advanced analytics, and a high level of automation. Increasingly, ML/AI elements with strong predictive capabilities are also needed to assist decision-makers and end-users observe all organizational best practices and objectives based upon historical and up-to-the-minute market data.
Credit Karma makes most of its money via commissions on the products and services it recommends to users based on their data. Other credit reporting agencies make selling credit reports that Credit Karma offers for free. Robinhood makes most of its money selling order flow and other information about its customer’s transactions.
Team Needed: This kind of project can only be accomplished by an enhanced integrated development team, or more likely, a specialized data science team. In the former case, you will still need a few data scientists, but your developers will need open access to SMEs throughout development.
When incorporating enhanced analytics, ML/AI for enhanced self-service or the creation of AI-enabled digital assistants, a specialized data science team is essential. Their task is not only the development of very sophisticated software, but maintaining the integrity of data quality applicable to a tremendous amount of data – and how that data is queried, answered, and capable of being manipulated into reports the way the end-user wants to see it. Data integrity is critical because even one wrong number can throw a lot of customer data out of whack.