Margins and Paddings Update

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  

New research shows email marketers are two times more likely than all other marketers to integrate customer data across all channels According to a commissioned study conducted by Forrester Consulting on behalf of Experian Marketing Services, maturity in cross-channel marketing is low and, despite the adoption of multiple channels in marketing programs, integration and coordination do not occur consistently. The global research study, entitled The Road to Cross-Channel Maturity, also found that marketers seasoned in email, more than any other digital channel, are in a position to be the ones to lead the transition to the cross-channel marketing era. A complimentary copy of the study can be downloaded at Experian Marketing Services’ Website. Please visit http://ex.pn/ZDxdEQ. In particular, Forrester Consulting found that marketers around the world struggle to integrate data sources and adopt effective data-management practices. Only 24 percent of marketers surveyed said they use contextual data and customer data for a real-time view across channels. Sophisticated email marketers demonstrated significantly higher rates of data-usage best practices, which was twice as much as the average respondent. Practices among marketers in Asia-Pacific (APAC) countries demonstrated the highest prevalence of this mature use of customer data at 36 percent, with China leading the pack at 47 percent. APAC also led other regions in overall cross-channel marketing maturity. Seventy-five percent of marketers that Forrester Consulting identified as “sophisticated marketers” use data in real time. In the study, Forrester Consulting states “…an email can provide a consumer with information or incentive to engage with other channels. As one of the most reliable, consistently used channels, email has an opportunity to be more than another transaction-driving medium… With cues from email, marketers can better provide interactions in other channels and touch-points.” The Forrester Consulting study recommends that marketers identify where email is most relevant and influential in the customer’s path to purchase and then incorporate additional channels along the path that tie all the communications together. To understand marketers’ maturity in cross-channel marketing, Experian Marketing Services commissioned Forrester Consulting to evaluate digital marketers’ attitudes about, experiences with and challenges related to cross-channel marketing, as well as the role email marketing has and will have in delivering cross-channel interaction. Forrester Consulting surveyed nearly 500 digital-marketing executives in various industries in North America, Europe, Asia and South America, including decision makers responsible for search, email, social, Website, mobile and display marketing strategy execution. It also conducted in-depth interviews with senior executives in the United States and Canada. A Webcast about the study conducted by Forrester Consulting and commissioned by Experian Marketing Services is available to view on demand at http://ex.pn/1Ftjhyx.