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If you're an engineer, data scientist, or product builder working on complex data problems, I’m optimistic that you'll find something valuable in these posts—whether it's a technical approach you can adapt or simply the reassurance that other highly talented teams struggle with challenges similar to the ones you may be facing.
Our most recent blog takes a look at SMB data in the BIG states👀
In late 2023, we began transforming Enigma’s data and machine learning infrastructure to capture the complexity of the U.S. business landscape in far greater detail. Today, we’re proud to introduce the new version of Enigma, graph-model-1, an evolved entity resolution framework and data model powering Enigma that maps brands, legal entities, operating locations, and the people who power them—all woven together in a 2.4B-node knowledge graph. Here, a “business” isn’t just a single branch or registration record; it’s the sum of everything we know: from its brand identity and legal frameworks to the physical footprints where it operates, the individuals who hold key roles or ownership stakes, and so much more.
We're bringing you some of our most interesting stories about the state of US Business we're seeing with Enigma data, as the data that's caught our eyes lately as we've been building Enigma's next generation platform, and sometimes a few tidbits of product news. This month's big story: we're looking at the rise and fall of illegal weed bodegas in NYC through the revenue impact of an enforcement crackdown on their legal counterparts.
Enigma Launches Small Business Financial Health Data on Databricks Marketplace Databricks customers gain secure, shareable access with Delta Sharing to Enigma's card revenue and growth data to better identify and engage businesses. Enigma, a data science company that provides comprehensive data insights into the identity and financial health of businesses, today announced a collaboration with Databricks, the data and AI company, to seamlessly deliver Enigma's data on small and medium business card revenues, growth rates, and other financial health signals via Databricks Marketplace.
Top weight loss players offering Ozempic have shown consistent YoY growth since 2021. These spikes came immediately after various GLP-1 drugs were put on the FDA Drug Shortage List, thus allowing various compound pharmacies to make alternative GLP-1 drugs and sell them directly to consumers. Traditional weight loss players offering meal plans such as Jenny Craig or Weight Watchers have suffered amid this Ozempic craze. On the other hand the growing providers of Ozempic include compounded pharmacies like Shed-RX and DTC providers of weight loss drugs made by compounding pharmacies like Henry Meds. Enigma's data can help you learn more about emerging industry trends to help you find and target high-growth prospects.
We excited to launch Karen Mills’ book tour for Fintech, Small Business & The American Dream. Topics we'll cover: Tech and data solutions for SMB lending challenges Evolving roles of traditional banks, big tech, neobanks and infrastructure players AI’s impact on SMB lending Details: Cocktails and light bites will be served on Enigma's rooftop. This event coincides with the Finovate conference - we hope out-of-town attendees can take advantage of the travel overlap. Attendees will receive a free copy of the book. About the Author: Karen Mills served as the Administrator of the SBA under President Obama, where she led initiatives to support small businesses through loans, grants, and other critical resources. She is currently a Senior Fellow at Harvard, focusing on economic policy and the future of small business in America. Attendees will receive a free copy of the book, courtesy of Enigma and Prime.
The Washington Post uses Enigma to explore sanctions imposed by OFAC over the decades, both as an economic policy and national security measure. The growth in volume and complexity of sanctions compliance has been a difficult challenge for regulated institutions and Government.
Chart of the Week Highlight: Restaurants - What's Cool to Drink Bubble tea leads the drinks pack. Average annual revenue growth of bubble tea shops outpaces wine bars and juice shops. Leading peers in revenue growth are i-Tea, Boba Love, Tea Top, Da Boba, and Tea Time. Enigma's data can help you learn more about the near-real-time revenues of small businesses across industries and subindustries to help you better target, segment and engage prospects and customers.
According to the Small Business Administration, two out of three business owners who seek credit do not receive what they need. One of the biggest barriers is surprising: not bad applicants with high risk, but instead sparse, thin, and inaccurate data on applicants. What is Enigma Risk and Underwriting? Enigma Risk and Underwriting offers accurate intelligence about the identity and financial health of 16 million + businesses to help you dynamically manage risk. Enigma Risk and Underwriting is a pre-permissioned data set. Enigma requires zero opt-in and can be used across any portfolio of business applicants. Why ask a small business for their bank account information - and lose 70% of your applicants – upfront? We help you facilitate an offer to your small business prospects, before asking for additional information. We help you see that prospect’s card transactions from a third party, versus what the merchant itself chooses to provide to you. The results with new customers and evaluations are clear: Enigma can help fuel profitable growth by approving 20-30% more applicants and granting higher credit lines to those approved. Our data is also used to cut out pockets of riskier populations that our clients previously had no insight into. The coverage of our data is high with the ability to match to 70-80% of our client's portfolio.
