Decision analytics allow organizations to convert data into valuable business decisions. Using analytical tools, scoring models and software applications to evaluate data, analytics help businesses manage credit risk, prevent fraud, target marketing offers and automate decision making.
Analytics predict behavior so that lenders can identify the quality of applicants and screen out those who don't match risk criteria. This kind of decisioning helps clients determine pricing and terms of new offers. Analytics also help companies keep costs down by letting them present customers with more relevant offers.
Experian's decision analytics expertise spans a variety of industries, including banking, utilities, telecommunications, leasing, insurance, automotive, mortgage, retail finance, public sector, mail order, small business and unsecured lending.
Our Decision Analytics business provides two main services:
- Credit analytics
- Decision support (includes risk management)
Experian's decision analytics services help buisnesses with Customer Acquisition, Customer Management, Fraud Management, Risk Management and Debt Recovery.
Statistical analysis, which enables clients to make more efficient decisions, comprises four main services: scoring, strategy management, strategy optimization and application processing.
Scoring lets companies manage portfolios more efficiently by providing a highly accurate means of assessing risk and determining payment potential in the collections phase.
Strategy management helps clients test new strategies at every stage of the customer relationship, including prospecting, application processing, acquisition, management and growth.
Strategy optimization maximizes profitability and return on investment by identifying the most profitable decision for each interaction.
Application processing streamlines business processes by automating acquisition and minimizing fraud. It also reduces turnaround time for loan processing.