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Posted by Scott Nelson in Perspectives on 6/22/2022
The availability and analysis of data is the driving force for change in business today and we see five ways that it is going to change the way equipment finance operates over the next few years. We note that “changing the way a business operates” is another way to say “changing our behavior” so we are really talking about five ways data is going to create innovation in our industry.
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Posted by Scott Nelson in Perspectives on 3/24/2022
Everyone has their own methods of predicting customer behavior. That’s the goal. Like tournament seeds, credit scores reflect past performance and provide insight over the long term that will be statistically relevant. But just like every game has new circumstances and the opportunity for special efforts by players and coaches, every business year has a plethora of new opportunities, constraints, and circumstances that might change how a business performs and behaves. Extra data sources help make better predictions.
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Posted by Dani Appleget in Perspectives on 12/1/2021
At the Annual ELFA Convention in San Antonio last month Scott Nelson moderated a panel on how millennials will shape the market over the next 30 years and how equipment finance businesses should be preparing for change. The panel was kicked off by an interview with well-known demographer, Kenneth Gronbach, and featured panelists: Zach Kimball, Jena Morgan, and Shea Huston.
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Posted by Scott Nelson in Perspectives on 11/9/2021
I had a great experience at the 2021 ELFA Annual Convention in San Antonio. One part of that great experience was learning more about what others were doing across the equipment finance ecosystem. As a technologist and thought leader, I am always on the lookout for ways that others are changing the business or changing the way they use technology to improve their business.
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Posted by Scott Nelson in Perspectives on 3/17/2021
Recently I was asked to opine on trends in the sensor marketplace. The question is one I have considered many times in my career and lately is a daily consideration given the importance of data to both personal and professional life. The challenge with the question is that sensors are no longer just a physical thing. Today we can combine data inputs from multiple sources, some physical some virtual, add some cognitive insight, and craft a recipe for a new measurement. But recipes only work reliably when the ingredients are fresh and the instructions followed diligently.
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