When faced with predictions, 9 times out of 10 the information is imperfect, unreliable or simply missing. Our software excels in situations that are challenged by missing information, poor quality data and unfriendly timeframes.
- Requires large amounts of data
- Predict on what is known
- Does not gracefully cope with unreliable or missing information
- Slow to build models and derive results
- Focused on insight rather than outcomes
- Works with available data including opinions, observations and gut feel
- Handles uncertainty and copes well with unreliable and unknown information
- Fast to build models and derive actionable results
- Focused on outcomes not insight for 'insight's sake'
The Veriluma Advantage
At the core of our patented software are algorithms based on Subjective Logic. Subjective Logic is suitable for analysing situations involving uncertainty and incomplete information.
Our software can deal with what we know AND can also consider what we don’t know. It can handle quantifiable data and combine it with qualitative, unreliable and uncertain information to arrive at an outcome of confidence and likelihood.
Veriluma extends the results of big data tools, descriptive and predictive analytics as well as business intelligence solutions to deliver assessments with actionable outcomes. Assessments highlight what has contributed to the likelihood, indicate potential risks, opportunities, and conflicts. Despite the quantity or quality of information available at that time, whether objective or subjective, the road ahead and its challenges are laid out.
- Supports decisions across a variety of areas in financial services, fintech, insurance, law, compliance
- Is an environment for analysts to structure and assess scenarios that are forward looking such as forecasts, financial and security risk modelling, strategic planning, trends
- Assists analysts inside defence and national security agencies to better understand and respond to threats and attacks as well as strategy plannning,
- augments human cognitive abilities
- considers all factors without emotion, bias or prejudice
- weights factors appropriately according to their level of importance
- allow users to spot and be alert to probable causes, and potential remedies for risk laden scenarios
- assesses and track problems over time as information changes
- identify risks that organisations can plan and act to mitigate
- increases the chances of a successful outcome
- enhances our capabilities rather than replaces, and helps us determine the right conclusions faster and more efficiently
The Steps to Better Decisions
Often we know what information would be useful to have but we are stifled in our ability to obtain it. Even when we do have the information sometimes it is out-of-date, has come through noisy channels, or from sources whose reliability is unknown or imperfect.
Such inconsistencies and a lack of reliable, relevant information almost always accompany scenarios fueled by deception and illusion, or denial and delusion.
Intelligence failure can be disastrous, so much so that recorded history – both ancient and modern – is replete with a litany of devastating intelligence failures. Examples of these are easily found in any period of history – the failure of the United States to perceive an impending attack on Pearl Harbor – and the failure by Japan to reason that Midway Island was a trap, with the consequent sinking of four Japanese aircraft carriers. More recent examples include the Cuban Missile Crisis where the world was brought to the brink of nuclear war and the Weapons of Mass Destruction (WMD) intelligence failure that led to the invasion of Iraq.
In the world of business, the Global Financial Crisis is a present example of intelligence failure. Investigations are now revealing how irrational behaviour, the creation of financial illusions and deceptive market conduct was systemically endorsed and encouraged, despite evidence that the course was unsustainable.
Veriluma helps to bring deceptive conduct, denials, and illusions of threat to light before damage is done.