It’s not just what you know, it’s when you know it
Sometimes in traditional relational databases, only the current state of an entity is shown. While it was sufficient in the past to model the world based on the current state of things, it is not so simple in today’s world of information and extensive data mining. New technologies have given us the opportunity to take advantage of past information to make real-time analytical decisions and forecast the future.
The question that financial services should be asking is not why we lost 500 customers last month, but how many customers we will lose this month and how can we reduce that number. By analyzing the history of states of a given entity, the business will not only generate higher quality reports, but also make smarter business decisions.