Margin test

With Small Business Saturday quickly approaching, Experian wants to remind small business owners why it is important to have good business credit. Good credit scores – they’re not just for consumers. Businesses need them, too. According to a recent Experian survey, only 33 percent of small business owners said they were able to get the capital they need to maintain satisfactory cash flow. Good business credit can help business owners receive the funding they need, as well as help them earn more favorable terms and lower interest rates. “A business credit score is one of the first things lenders, suppliers and some customers look at before deciding to do business with a company,” said Laura DeSoto, senior vice president for Experian’s Business Information Services. “The insight that a business credit report provides, enables small business owners to take any necessary actions that will affect future growth. By spending dedicated time and resources building business credit, a company is establishing good management habits, which can help them obtain the resources they will need.” To help educate small business owners on the basics of building business credit, Experian is hosting a tweet chat on Wednesday, Nov. 19, at 12:00pm Pacific time. You can follow the conversation using #CreditChat. Small business owners can also get started monitoring the health of their business credit report at SmartBusinessReports.com, which is now mobile-friendly. Consumers are now able to order and review business credit reports from their smart phone or while at their desk. Business credit reports include pertinent data elements such as a commercial risk score, payment trends, public record information and key business facts. Other business credit management resources include: • BusinessCreditFacts.com – A source for understanding and learning about the benefits of managing business credit. Additionally, the site enables small business owners to check their business credit listing on Experian’s business credit database. • Experian.com/small-business – A Website that provides the tools and services for small business owners to monitor business credit, mitigate credit risk and manage cash flow.

Experian has been named to Forbes' list of the top 100 most innovative companies in the world. The world’s most innovative companies were united by one factor at the heart of Forbes’ methodology: ‘investors’ ability to identify firms they expect to be innovative now and in the future. This ‘Innovation Premium’, alongside other factors, determined whether a company is included in Forbes’ exclusive list. For Experian, innovation is part of our DNA, from the 1950s when a punch card system was introduced to process credit information, to the present day, where our data labs are at the forefront of data science. Experian DataLabs are staffed by teams of scientists with Ph.Ds. and applied research practitioners with expertise in advanced analytics and machine learning, as well as other advanced statistical methods. The lab in North America has had some remarkable success with Fortune 500 clients where they been able to identify previously undetected risks and signals from data sets comprising billions of transactions. By analyzing many multiple variables in new ways—natural language processing against payment card accounts for example, they gain insights that are incredibly useful for our clients. For example, one of the largest banks in American asked the DataLab to find more effective ways of convincing their debit card users to use their credit cards. To develop the solutions the lab analyzed about 7 billion customer transactions over a three-year period from the bank, and incorporated Experian’s data. The lab’s solution entailed finding 550 unique segments of users that the bank could target. That was far too many so the lab culled the segments down to 20. The bank was so pleased with the outcome it has engaged the lab in an ongoing contract. The developed solution is also being used by five other major banks. Our culture of innovation is thriving as Experian continues to grow and lead the way in developing solutions and harnessing the power of data to turn insights into actions. That value added insight can help a consumer secure an affordable loan, improve their credit score, or protect their identity; or for a business to mitigate risk, help prevent fraudulent transactions, or even to ensure they are marketing their products and services to the right consumers at the right time and across the right channels.

One of my favorite sayings growing up as a kid was, “One man’s trash is another man’s treasure.” While these words can have a very literal meaning, at its essence, it means that everything has a value to someone. There couldn’t be a more fitting circumstance to apply this saying than when you look at the automotive industry, especially in relation to leased and certified used vehicles. After all, most certified used vehicles were once leases. According to a recent analysis, Experian Automotive found that consumers in larger metropolitan areas leased more vehicles than were purchased new, and those in smaller areas tended to buy more certified used* vehicles than new. Cities such as Detroit and New York saw extraordinarily high volumes of leases. During the analysis period**, leases accounted for 67.9 percent of all new vehicle registrations*** in Detroit, while they accounted for 49.8 percent of new vehicle sales in New York. Top 5 metropolitan areas new vehicle lease penetration Detroit 67.9 percent New York 49.8 percent Flint, Mich. 49.1 percent Youngstown, NY 46.5 percent Cleveland 43.6 percent By comparison, cities such as San Angelo and Victoria, Texas had the two highest percentages of certified used registrations compared to overall vehicle sales. San Angelo had 26.7 percent of its total vehicle sales fall under the certified used category, while Victoria had 25.1 percent. Top 5 metropolitan areas for highest percentage of certified used vehicle sales San Angelo, Texas 26.7 percent Victoria, Texas 25.1 percent Corpus Christi, Texas 24.4 percent Odessa, Texas 24.3 percent Lubbock, Texas 24.2 percent “Not every market is the same. Economic and social issues often drive sales,” said Brad Smith, director of automotive market statistics for Experian. “Detroit for example, benefits from the presence of Chrysler, Ford and General Motors, as well as numerous suppliers and many friends and family programs. By gaining insight into consumer purchasing behavior in their market area, dealers and manufacturers can take more targeted actions with regard to managing their inventory, capitalizing on growth opportunities, gaining new customers and improving profitability.” Further analysis found that from a brand perspective, MINI had the highest percentage of certified used vehicles compared to total vehicle registrations**** at 32.7 percent, followed by Ram (28.9 percent), Hyundai (28.3 percent), Mercedes-Benz (28.3 percent) and Kia (27.7percent). So, which certified vehicles are consumers purchasing the most? The analysis showed that the Toyota Camry had the highest volume of certified used registrations, followed by Nissan Altima, Ford F-150, Ford Fusion and Chevrolet Silverado. The next time you are in the market to buy, which will you get … new or certified used? While not every vehicle type is going to meet every person’s preference or specific situation, by understanding what metal is moving in the market, dealers, manufactures and consumers can find the “treasures” that best fit their needs. *For the purposes of this analysis, certified used vehicles are an approximation based on model year parameters (0-5 years old) **Analysis was based on January-September 2014 data ***Minimum 10,000 new vehicle registrations ****Minimum 100,000 vehicle registrations

With all the discussions around the risks of big data, the fact that it can be used as a powerful enabler of good seems to be missed. The benefits of big data can be seen throughout our day to day lives from simple things like traffic alerts to more impactful purposes like those seen in today’s healthcare environment. At Experian we serve more than 2,800 hospitals and 9,000 physician practices and use big data to help serve their patients as quickly and efficiently as possible. Our data and technology guides hospitals, physicians and patients step by step through an increasingly complex healthcare process. With Experian’s curated data sets at their fingertips, health institutions are able to guide patients in determining whether they qualify for government programs like Medicare or Medicaid, as well as if they are eligible to participate in the Healthcare Insurance Exchange (HIX) subsidies. In many cases, the system alerts a patient of eligibility for aid that they were not even aware of. “Big data” also helps provide increased safety. Data-driven insights accurately verify patient identities when they arrive at a clinic or hospital. By making sure patients are who they say they are, we help clinics and hospitals prevent fraud, ensure accurate medical records and carry out proper care. Additionally, through Experian’s Payment Plan Advisor, the same institutions can help patients develop personalized payment plans that fit their individual financial circumstances and meet the necessary payment plan guidelines. Additional tools provide patients insight into how much they currently owe a facility for previous services while giving them a clear idea of what their financial obligation will be for the current visit. Lastly, when it comes to online databases of patient medical histories, “big data” delivers enhanced cyber security. Recent healthcare reforms have made patient data available online through pharmacies, hospitals and labs. This accessibility leaves that data exposed to would-be hackers. That’s why more and more health institutions are taking steps to safeguard patient histories by adopting identity theft protection platforms and device verification technologies – the same security mechanisms used by banks. Big data, combined with technology and of course people, is enabling better, safer care and facilitating an enhanced patient experience. When managed appropriately – and in compliance with existing laws and regulations on data use – data is a force for good. So the next time you need a helping hand, don’t forget how the power of “big data” can make a big difference.

This week, Experian is participating in the Money 20/20 conference at the Aria Resort and Casino in Las Vegas. This premier conference highlights innovators that are profoundly changing how consumers and businesses manage, spend and borrow money.  At the conference, Experian is providing a comprehensive view on customer intelligence and how we can be a data partner in helping businesses make powerful decisions that help acquire, grow and protect mobile customers. The Experian team has hit the ground running and if you are attending the conference, be sure to check out all of the ways to meet up with us and stay connected. Here’s a quick overview: Meet the experts Stop by booth #218 in the Bristlecone Ballroom to learn from our mobile channel experts on how to deliver timely and relevant information and offers to your customers. Click here to schedule time with our experts. While at the booth, test your credit and fraud knowledge by playing Experian Buzz. Players have 90 seconds to put up furious points answering questions about personal credit scores to squelching online fraud. Best Buzzers will rock the leaderboard and the best of the best with win a time-smart Pebble Watch and other great prizes. See Mike Bruemmer, Vice President of the Data Breach Resolution group at Experian Consumer Services present with Yaron Samid, CEO of BillGuard Tuesday, Nov. 4 at 11:45-11:55 a.m. at Starvine 10, level 3. If you aren’t attending the conference and want to know more about what Experian is doing in this mobile space, there are many other ways to engage: Join the conversation Join the tweet chat hosted by @Experian on Twitter this Tuesday, Nov. 4 at 12:15 p.m. PT during the conference lunch hour to discuss trends in mobile payments. Use the #MobilePayChat hashtag to tune in! Connect with the Experian Money2020 group on LinkedIn to network and receive exclusive research during and after the conference. Research and insight Find out why merchants are rejecting near field communications from Experian’s mobile expert Cherian Abraham. Leveraging his deep understanding of mobile commerce and payments, Cherian sheds light into this trend. Read more: http://bit.ly/EXPN-NFC According to the Consumer Financial Protection Bureau, in 2013, about 74,000 new consumers used mobile banking per day. With the growing trend of consumers utilizing mobile platforms to conduct business, this paper examines how lenders have the opportunity to increase engagement with customers, offer more customized products and services with in-the-moment offers and enhancing loyalty by anticipating their financial service’s needs. Download the report here: http://ex.pn/1x2Nwrn. Our expertise spans a variety of industries including banking, utilities, telecommunications, mortgage, leasing, automotive, retail finance, public sector, fraud prevention, small business and consumer education. To learn more about our resources, visit http://www.decisionanalyticsblog.experian.com/. To wrap it up, we’re looking forward to attending and getting a taste of what happens at this much-talked about event.  We’ll be sure to provide you with our thoughts and learnings very soon. Stay tuned! Photo source: Shutterstock