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At Experian we believe that data is good. Good for our economy, good for consumers and good for society.  Analytics and technology designed to help marketers put their data to use and become truly customer-centric is just one example of using data as a force for good.  The following column was written by Emad Georgy, senior vice president of development and global head of development at Experian Marketing Services, as part of a “Data-Driven Thinking” series for AdExchanger. Emad explores the topic of customer-centric marketing, and raises the question: “What does a marketing ecosystem look like when we focus on the customer and work backward from there? It’s not about the cloud; it’s about the customer.”  In the age of the half-read article, far too few have taken the time to understand deeply what big data can do for their business. The focus has been more on the medium, with more talk about channels, clouds and the data than about the customers themselves. This begs the question: What does a marketing ecosystem look like when we focus on the customer and work backward from there? It’s not about the cloud; it’s about the customer. Looking for big answers in the channel and the technology is important, but focusing on the “how” of big data can obscure the reasons for why we use the data. It’s as if some are staring at a large explosion of data and wondering, “What can I do with this data? How can it benefit my business?” This is backward at best. With more data in our marketing ecosystem, the complexities of mining and predicting have increased exponentially. More marketing communities are investing in data scientists as a result. But there’s something out there bigger than big data: the big questions we want answered and the answers themselves. Now we need to identify the big questions and answers that can come out of this big data boom. One of the keys to answering the right big questions: predictive analytics. Predictive models and tools are easier and more accessible than ever, with the ability to put big data insights into an automated, future-finding realm that is becoming more open by the day. This accessibility enables professionals in every industry to answer in mere minutes questions that would have once required many years and millions of dollars. The Right Questions Before we identify what the right questions are, it’s important to understand what the right questions are not. Marketers often view predictive analytics as the solution to their budget optimization decisions. Sure, CMOs are under increased pressure to predict future spending and adjust channel budgeting accordingly. Real-time predictive analytics allows them to do this without waiting for end-of-the-month reporting. This is an important decision, and analytics can help. But marketers need to go beyond the budgeting mindset to consider the customer’s role in analytics. Customers offer up so many other data points as they engage with a brand, and marketers are responsible for using that information to improve the customer’s day-to-day experience. So what are the right questions? Here are a few. Who is my best customer segment? Keep in mind that this is a transient answer and can change in real time. Who is showing signs and/or probabilities that they are going to become my next best customer segment? Which cross-channel consumer experiences are resonating, and when and where? Which customers are showing behaviors that may predict a lack of engagement or declining engagement? By asking the right questions, marketers can move beyond the marketing mix budget question. Predictive analytics can offer insight into what types of consumer segments are resonating in which channels, at which times of day, for which products and at which point in a path to purchase. It can give insight into things that are about to happen – when a customer is about to fit your “best customer profile,” or perhaps the warning signs to predict when a customer is about to terminate the relationship. Real-time capabilities to understand and optimize buyer personas, to deliver contextually relevant messages to individuals, not demographics, are just some of the ways we can leverage these capabilities. Building intelligent, mutually beneficial interactions for individual customers requires knowing these signals. Avoid The Snapshot Predictive analytics is so important for optimizing the customer experience because a customer’s experience – whether it’s preferences, behavior or desired conversations – can change every second. Models that are used to inform the marketing experience can’t be built from static variables, but rather must learn and adjust in real time. When the insights are made predictive and are constantly attuned accordingly, a critical shift is made: Customers, not marketing technologies, are driving the intelligence. And that’s the crux of the crossroads we face. We’ve focused for so long on the how of analytics that we’ve forgotten the human side. The algorithms and technology we’ve built are impressive and incredibly useful, but predictive analytics can’t be entirely machine-run. There’s a human element that must coexist and we must recognize that behind the data are real, irrational humans with constantly changing and sometimes unpredictable stories. We mustn’t let our obsession with the “how” of data get in the way of the “why” we care. That is what customers want: seamless, integrated experiences that are contextually relevant to their wants and needs. Follow Experian Marketing Services (@ExperianMkt) and AdExchanger (@adexchanger) on Twitter.

  Today Experian Vision 2015 conference kicked off to great start with a full house here to learn the latest about how data and analytics can transform the way we do business today, drive growth and solve some of our biggest business challenges. Craig Boundy, former CEO of Experian North America challenged the audience to think big over the next two days and beyond. Without question, big data is a huge driver in today’s economy. How can companies operating in today’s data driven world acknowledge the power of data and also embrace the power of data as a force for good. A panel of business leaders from Experian then took the stage to address a range of questions about topics common and critical to successfully grow business, find opportunities and solve problems. The topics addressed:preventing fraud, reaching unbanked and underbanked consumers and the importance of quality data. The more than 80 breakout sessions presented by Experian experts and industry luminaries drilled deeper into these topics. A highlight for all attendees was the keynote from Dr. Madeleine K. Albright, Former U.S. Secretary of State and chair of the Albright Stonebridge Group and Albright Capital Management. Dr. Albright highlighted  her years of international diplomacy and business experience. In her comments, she stated that it is the private sector who truly have an important role to play in embracing technology and data. “It’s the private sector’s know-how, innovation and job creation that invigorates communities and countries. Globally, private sector investment overwhelmingly exceeds foreign aid, which many Americans would be surprised to learn is less than 1% of the federal budget. And needless to say, the financial services sector, which many of you represent, does have an indispensible role. I’ve often said, that for many countries the key to development is not discovering oil or gold; it's having financial institutions that are accessible, accountable and available in the right places at the right time.” To learn more about Experian’s Vision 2015 Conference click here. Be sure to follow us on Twitter at @ExperianVision and our LinkedIn Community for instant conference updates.  

At the start of the Vision 2015 Conference, Experian® announced a new dedicated enterprise Fraud and ID business in North America. This newly established business unit allows Experian, the leading global information services company, to more aggressively address the growing variety of fraud risk and identity management challenges businesses, financial institutions and government agencies face. "The rapid progression of wide-scale fraud and data breaches have led to a significant increase in identity theft related risk, and potential fraud losses on a larger scale than ever anticipated," said Charles Chung, president of Decision Analytics, Experian North America. "For nearly two decades, we have been helping clients solve the difficult and ever-changing problems of fraud detection and identity management. Our core expertise was further enhanced by the recent acquisition of 41st Parameter which added device identification as another important layer of sophistication to our suite of fraud detection tools. Now the creation of a new fraud business unit brings all components of our Fraud and ID services together to better serve all markets through our innovative authentication techniques, advanced analytics and Big Data insights." Having one comprehensive operation allows Experian to deliver greater value across its various addressable markets through customized approaches that balance privacy, security and compliance requirements with client reputation, customer experience, convenience and efficiency. The integration brings together a wide set of enterprise services ranging from identity and device risk assessment and anti–money laundering to consumer identity monitoring and alerts, letting Experian continue to proactively meet client needs surrounding the complex risks they face. Dr. Jon Jones has been appointed to lead the new business unit as senior vice president and general manager of Fraud and ID for Experian North America. "Data security and fraud management affect many industries as identity data has become so compromised that authenticating consumers through traditional means is not enough to safeguard against fraud. Modern fraud risks now absolutely require Big Data assets and the proven ability to derive predictive analytical capabilities to meet these challenges," said Jones. "Today, online and mobile commerce, and customer demands for convenience and speed are intersecting with the increasing sophistication of criminal fraud networks. Experian's new integrated fraud business delivers next-generation holistic fraud management services, leveraging our vast data landscape to identify customers' risk for fraud even when no threat has been detected to stay ahead of the growing market demands." Accounting for the real risk of identity compromise over time continues with the launch of Experian's Identity Element NetworkSM which identifies real-time fraud volume and velocity linkages across multiple industries to predict when consumers are showing risk of identity compromise. Experian monitors and predicts when seemingly random identity element linkages become meaningful risk clusters, including: When an identity likely has been compromised When an identity is victim of a data breach When a transaction is part of an identity theft scheme, particularly an account takeover When consumers' identities are exhibiting identity theft, visible by monitoring a broad portfolio of breached or compromised consumers "Cybercriminals continue to rapidly escalate their assault on sensitive data across a variety of industries, with no end in sight," said Julie Conroy, research director at Aite Group.  "This requires fraud prevention capabilities to undergo a similar rapid evolution, with a new, more advanced approach to identity management sitting squarely in the middle of risk mitigation. Simple personally identifiable information is no longer enough to verify identity; the next wave of fraud and cybersecurity services needs to employ robust data and advanced analytical capabilities in order to make faster and more informed identity decisions." Experian's Identity Element Network service can be utilized through its flagship fraud enterprise platform, Precise ID®, using its data assets and analytics alongside 41st Parameter's FraudNet to deliver a comprehensive view of the Customer Life Cycle of traditional identity, device confidence and risk assessment. Learn more about Experian's Big Data fraud service for breach identity compromise detection for your business.