Experian: Big Data Use Case

This article covers how Experian leverages Big Data and analyzes one of Experian’s products.

Ryoji Iwata. https://unsplash.com/photos/IBaVuZsJJTo

Experian key facts at a glance

How does Experian decide credit rating?

Experian’s FICO scoring model provides credit scores (ranging from 300 to 800). The score indicates the likelihood and probability of the consumer missing a payment. Higher scores relate to favorable and attractive offers from lenders and attractive lending terms. This score is determined based on a risk-based credit scoring proprietary model fed by consumer credit reports to assign a score for consumers. Additional weighted factors include:

VantageScore is a tri-bureau credit score, a patent-pending methodology providing lenders with a consistent interpretation of consumer credit files across all three major credit reporting companies and with the ability to score a broad population. Experian provides business credit scores as well.

Product Analysis
Experian has added a range of data & analytics offerings to help businesses including small businesses tap into analytics. One such product is Data Select(™) Tool. Key offerings:

Based on the nature of the business, Experian helps direct marketers, telemarketers pull apt marketing leads list based on chosen parameters to reach niche markets from children to grandparents, mobile homes to mansions, and metropolitan areas to rural areas. A combination of the following sources of data is used to generate Marketing Qualified Lead (MQL) lists:

References

https://www.experian.com/dataselect/

https://www.experian.com/blogs/ask-experian/how-is-your-credit-score-determined/

Exec Director StratEx - I bring to the table blend of data science, finance and strategy management skills with 20+ years of experience in insurance & fintech.

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