Experian Decision Analytics Global Market Update
In this edition we focus on analytics. The beauty of analytics is the fact that it is real and tangible rather than possible and theoretical, and in this issue we try to show you how to take good advice forward into real results i.e. ‘show me the numbers’!
We look at several areas worthy of further consideration including:
- Using Monte Carlo simulation to predict market changes based on early adoption of legislative changes.
- The analysis of often arbitrary derived policy rules.
- Validation of existing models to ensure they are fit-for-purpose.
- The holy grail of risk managers, the optimisation of their capital requirements. Analytics doesn’t just reside in credit risk management of course; applications abound across the complete life-cycle including marketing, fraud prevention, collections and account management. What we have found particularly effective at Experian is to look at decisions not just in isolation, but integrated at a customer level, and across the life cycle.
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