Innovative solution for Business Intelligence
Advances in technology and software are enabling organizations to adopt more powerful and advanced analytical approaches to help drive growth, efficiency, competitiveness and manage risk.
The availability of new data sources creates enormous potential for developing predictive credit risk management models which go far beyond 'traditional' internal and credit bureau data.
Experian has already invested in this area, developing extensive knowledge, experience and established a track record in delivering big data, data science, advanced analytics and smart credit solutions, in numerous countries across the globe.
Our advanced analytics solution - Web Data Insights (WDI) - uses public unstructured data gathered from the internet, combined with machine learning techniques, to develop models that enable companies to add another dimension to their credit risk management.
- Improved risk assessment with an additional layer of public non-traditional and unstructured data
- Ability to highlight root causes of high-risk events
- Accurate prediction about future events and a customer’s likely propensity to buy, churn, or engage
- Reduction in bad debt, improvements in acceptance rates and in the quality of accepted applications
- Early warning signals and deeper portfolio insights
- Improved statistical models based on machine learning techniques
The approach
Our comprehensive end-to-end WDI solution covers web crawling, site classification, text mining, segmentation analysis and machine learning models. Each account from a pre-defined sample is analysed, searched for on the internet, with publicly-available information collected – an automated process known as ‘crawling’ or web data-scraping.
Information is then classified under various categories by sophisticated text mining algorithms, before meaningful and relevant information is converted into usable data. Differing text mining and sentimental analysis methods can be applied to order unstructured data and create a base of predictive variables.
"Web Data Insights assess customer behavior through on-line presence measurement. It enables companies to add value to their existing matrix for portfolio evaluation."