Improving data analytics is important for credit management

p2pfinancenews.co | February 17, 2020

Improving data and the quality of decisions are two of the top strategic priorities for credit management professionals in the next three years, research by credit reference agency Equifax Ignite has found.Almost three quarters, 72 per cent, believe there is scope for future improvement of data analytics at their current companies. The study, in collaboration with research firm Coleman Parkes, revealed that artificial intelligence (AI) is considered to be the most important investment for specialists in retail banking, finance and debt management/recovery sectors, in order to improve their quality of decision-making.
Two thirds said they are currently using or are planning to use AI to improve credit decisions.
“The credit management industry is in a state of progressive flux, with improved decision-making processes and models being rapidly evolved through the implementation of technological advances,said Paul Heywood, chief data and analytics officer at Equifax.The quality of data will be central to credit companies’ business strategies in the coming year.
“There is an explicit understanding within the industry that investing in AI will deliver more accurate decisions and better efficiencies at an individual businesses level.Equifax Ignite enables firms to make smart decisions faster, providing advanced tools to deliver more predictive insights.This enables companies to improve the quality of decision making based on quality data.

Spotlight

Esri and SAP have partnered to offer a unique and powerful spatial solution that helps organizations gain more insight from their authoritative business data. Our technology delivers high-impact location intelligence that you can use to improve operational efficiencies, advance your decision-making capabilities, and meet key business objectives. Together, Esri and SAP are helping organizations harness the spatial aspects of their business data to discover new insights and share location intelligence with everyone who needs it. By leveraging the capabilities of Esri ArcGIS and SAP HANA, you can visualize and analyze business data and transform it into actionable information.


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BIG DATA MANAGEMENT

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BIG DATA MANAGEMENT

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Spotlight

Esri and SAP have partnered to offer a unique and powerful spatial solution that helps organizations gain more insight from their authoritative business data. Our technology delivers high-impact location intelligence that you can use to improve operational efficiencies, advance your decision-making capabilities, and meet key business objectives. Together, Esri and SAP are helping organizations harness the spatial aspects of their business data to discover new insights and share location intelligence with everyone who needs it. By leveraging the capabilities of Esri ArcGIS and SAP HANA, you can visualize and analyze business data and transform it into actionable information.

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