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What is Accuracy Browse by topics Understand the concept of accuracy applied to business What is the difference between accuracy and precision? How important is accuracy for business? What are the main levels of accuracy? How does a facial biometrics solution guarantee high accuracy rates? Today, there are different types of tools and solutions that contribute tocredit analysisin a business. Through technology, your team can optimize their work more effectively, in addition to facilitating the onboarding process for new clients and bringing more security to the business. However, before hiring any type of product in this regard, it is necessary to understand what accuracy is and how important it is for the organization. With this in mind, we created this material so that you can learn a little more about the topic, in addition to understanding how it is combined with the initial processes of contact with the customer. Continue reading and find out more! Understand the concept of accuracy applied to business The origin of its term comes from the English language, accuracy. Widely used in physics and mathematics, the word was also incorporated into the business management vocabulary to define the proximity of an experimental result to the real one. As we discussed, accuracy is a common term when referring to credit analysis processes. After all, it is through this understanding that the company will have the opportunity to analyze the quality of the service provided by its supplier. However, there is often confusion regarding its real meaning. It is common for teams to consider that it only refers to the precision of a solution — and its concept is a little more complex.
By definition, the concept of accuracy is the proximity of the Poland WhatsApp Number List result in relation to the real reference value. What does this mean in practice? In credit analysis solutions, the greater the accuracy, the safer the solution. Understand: let’s assume that the accuracy of thefacial biometricsis 95%. This means that the chances of bringing reliable data to your company are 95%, which offers greater security for analyzes and also improves customer relationships. When evaluating a person's face and comparing it with documents, for example, accuracy in this sense is related to the fact that the chances of the tool getting it right are in this percentage. In short: accuracy is a measure obtained through comparisons or verifications, allowing the user to choose the one that best offers security to their business. What is the difference between accuracy and precision? A common doubt among teams is related to the difference between accuracy and precision. Accuracy is the accuracy of a solution plus its precision. Meanwhile, precision is the degree of variation of the measurements taken. Understand: a tool can have an average of 90% accuracy. However, in some measurements, a percentage of 70% was identified, while the other reached 100%. This means that accuracy is high, but precision is not. Therefore, we can identify that precision is directly linked to the smallest variation in values, whose scores are very close. When we discuss what each one depends on to have its value, we arrive at the following result: Accuracy depends on calibration, so that it avoids systematic errors for a business — your final value will be the difference between a measured value and a reference; Accuracy depends on the interference level of these results. In other words, accuracy is related to bias, while precision refers to repeatability.
In a company, when analyzing a tool to bring security to your business, the ideal is that it has a good level of accuracy and is also precise. How important is accuracy for business? Now that you know what accuracy is and what the main differences between precision are, the time has come to understand how important this concept is for your business. More security for the company The first point to analyze the accuracy of a solution is related to security for your company. When searching for tools that enable more effective credit analysis, there is a need to analyze the main alternatives on the market and look for those that best offer gains to your organization. In this sense, some points must be evaluated. In addition to seeking to understand how the companies evaluated are serviced, also find out the level of accuracy of the solution. Remember: the bigger it is, the closer the results will be to reality. Better understanding of risks Especially in periods where default rates are high, there is a need to understand an entire history of consumer behavior who seeks to purchase products in your business, whether acquiring credit or solutions that will bring gains to the customer's daily life. In this way, understanding the accuracy of a tool will enable the team to have a better understanding of the risks, in addition to bringing greater peace of mind to the process. Reliability of results Due to all these points mentioned, it is necessary to obtain greater reliability of the results, especially for a better understanding of whether the person fits the validation rules of your business.