Data & Analytics
Ways Experian is using big data and analytics to improve our world
My work with the non-profit side of Experian started more than a decade ago, when I was asked to provide some general oversight with a project. I was only meant to play a supporting role, but my passion for the work blossomed immediately. It also seemed fortuitous that my colleagues could jokingly call me “Tammy Non-Proffitt.” Non-profits are dedicated to furthering and advocating for their respective social causes, but they don’t always have the resources they need to drive their message home. Additionally, non-profits sometimes have trouble understanding who their actual donors are due to a lack of data insights. With the limited budgets non-profits have, it would be a shame to waste hard-earned dollars on a campaign that won’t resonate with the right people. Luckily, Experian utilizes data that helps non-profits target the audiences that care about their causes across multiple channels, driving donations that are crucial to the organization’s function, while raising awareness about their cause and furthering their efforts. Recently, I worked with the Raleigh, North Carolina-based non-profit Rise Against Hunger, an international organization that prevents hunger by providing food and aid to people who need it. When Rise Against Hunger was looking to promote several fundraising Facebook campaigns, our data allowed the organization to identify the right audiences for them to target. With this data, Rise Against Hunger can directly target people who are more likely to care – and donate – to their cause. I’ve also had the opportunity to work with The Orangewood Foundation, based in Santa Ana, California, which prepares former and current foster youth to reach their potential and learn about the basic life skills they need to succeed. Like Rise Against Hunger, Orangewood needed help segmenting their own current donor base for different promotions and campaigns, based on age, location and area of interest. Orangewood provides services to more than 1,500 youth every year, so making sure they are targeting the right people for donations is extremely important. Since I began working with Orangewood, I’ve had the chance to visit their campus and charter school, and was simply blown away by the quality of their staff and facilities. Data drives and informs decision-making, helping organizations like the non-profits I work with make smart choices about their communications outreach. In addition, my recent work has not only allowed me to help non-profit clients I care about, but also connected me with other Experian employees, showing how different teams can effectively collaborate to use data for good.
Positive female role models are important if we are to transform some of the preconceptions that the public, and more importantly young girls, have about a career in STEM. To achieve this, it’s important that the effort starts at an early age to breakdown the stereotypes and outdated views that certain professions are gender-specific. At Experian, we are committed to empowering more women to become data scientists. That’s why we were delighted to sponsor the Women in Data conference in November, to help inspire, educate and support women into the data industry. Further to that, we are absolutely thrilled to find out that Experian\'s data scientist Berenice Pila-Díez was announced as one of the 20 women in data and technology, a project showcasing women forging careers in the traditionally male-dominated fields of data and technology. We hope that Berenice’s story, along with the others, will act as inspiration for the next generation of girls (and boys) to follow in their footsteps and establish a successful career in STEM.
I’m the head of Serasa Experian’s DataLab, where my colleagues and I focus on using data and artificial intelligence to solve complex challenges for our customers. Our team of data scientists and applied research practitioners use data analytics to create new products and services that address world needs. One successful product is RWA, a platform that analyzes the dynamics of cities to help businesses make informed decisions on their next site location. Occasionally, however, we also discover innovative ways data can solve our own obstacles at Experian. Last year, several departments within Experian were facing similar challenges. We realized the problem could be solved if each group got together to share their perspectives, brainstorm and then collaborate on a common solution. At the end of that project, our teams decided to find more ways to encourage cross-team collaboration within the DataLab network more often. That’s when we decided to launch our first hackathon. Hackathons are events where a large number of people are challenged to participate in collaborative computer programming projects. Various challenges are proposed and the goal is to optimize, reinvent or replace current solutions, providing the participants with the freedom to select their project and team. For our inaugural hackathon, we challenged 80 programmers, designers and project managers to work together for more than 24 hours to create efficient authentication and retention processes to benefit customers. In our second hackathon, we asked participants to create a new Serasa Experian app that would improve relationships with consumers, along with new products that would utilize Experian’s database. The winning app solution ended up using positive registration data to improve personal credit scores for consumers. This app is now in the process of implementation. For our most recent hackathon, held in 2017, we challenged 200 employees and external participants to develop solutions. One of the challenges was to develop solutions to improve the lives of visually disabled individuals. We invited three people with visual disabilities to share their experiences, giving the teams a personal perspective for how a new product could improve their daily lives. For more than 40 hours, the teams worked tirelessly – utilizing data analysis, product design and business planning – to develop their innovative ideas. Although we have only hosted three so far, I hope to continue bringing the culture of the hackathons into our day-to-day activities at Serasa Experian. By collaborating more with coworkers in the past couple of years, I have been inspired by their ability to approach problems in unique ways. I am proud to foster such a collaborative environment and excited to see my coworkers prove a fundamental belief at Experian - hard work can also be fun when you work hard and play hard.
“I’ve been working with Turkcell for about six years now. I was on my way to have lunch with my main contact there, Elif, and I bumped into so many familiar faces. We agreed that you don’t often get that kind of long, trusted relationship in business. About two years ago, Elif explained to me that Turkcell needed help keeping customer communications fresh and relevant. Turkcell had a fixed weekly marketing plan, but a week is a long time in marketing. Customers were interacting with them all the time, across lots of different channels. These different types of customer communication cancelled out Turkcell’s planned weekly messages. They had to cancel more than half of their planned contacts. The marketing team were really frustrated – this was a complex challenge to fix. We wanted to create a marketing tool that meant Turkcell could speak to their customers every day instead of once a week. And so the right messages got to the right people at the right time. The team we got together on this project were based all over the world: Turkcell and an Experian team in Turkey, me and my team in Nottingham, our software development team in Bulgaria, our product development over in Washington, and Vusal in Monaco who helped us completely automate the process. Vusal’s fluent Turkish certainly came in useful. I flew over to Turkey a few times during the project. Being onsite made a big difference – it meant we could understand and fix issues in hours, rather than days. There’s one particular time that stands out. It was five weeks before the launch, so we had loads to get through. We worked non-stop for two weeks straight, right through the weekends, making sure nothing would stop us getting the daily marketing tool up and running. We’d each bring in different food and fruits for our ‘table picnic’ to keep us going. There was a lot of attention focussed on this project. When it finally went live, we had a ‘phew’ and a ‘wow’ moment. And then we saw the difference it made. It’s done exactly what we wanted it to do and Turkcell’s take-up rates have improved. And now we’ve won a Global Telecoms Business Innovation award for it. It’s a joint award, for both Turkcell and Experian – which feels right. It was hard work, but worth it.”
In my role at Experian, I am constantly surrounded by data and fascinated by the ways it can be applied to some of the world’s most pressing problems. So, when my bosses asked me to meet with the marketing team at Good Shepherd Microfinance – Australia\'s largest microfinance organization – to explore synergies between their work in affordable financial programming and ours in data analytics, I jumped at the opportunity. I knew Good Shepherd worked across sectors to promote the economic wellbeing of low-income clients through loan programs, insurance policies and educational programs, and was excited about the opportunity to take part in social impact work. I had no idea back then that my team’s discussion with Good Shepherd would evolve into such a rewarding and impactful project. Working with Good Shepherd provided an opportunity for my team to use data as our contribution to Australia’s push for financial inclusion. We applied our demographic targeting systems and analytics processes to Good Shepherd’s data and existing work, improving their ability to engage with clients. This work helped Good Shepherd positively impact the lives of those most in need of a financial lifeline. This project was a real milestone for my team. It was the first time we had been asked to apply our skillsets as analysts to a corporate social responsibility project. Knowing that our work was affecting the lives of fellow Australians was incredibly motivating for us. Toward the end of our project, we delivered an analytics report outlining how Good Shepherd could expand the reach of its financial inclusion initiatives, which the organization then had the opportunity to present to the state government. Intrigued by Good Shepherd’s presentation and excited about the potential to deliver fair, sustainable investment products to a greater segment of the population, the government reached out to Experian and inquired about working with us to learn more about our data analysis techniques. Knowing my team’s work might influence government policy was extremely gratifying, and we felt immense pride that we’d likely helped countless more people gain access to basic and affordable financial programs. In retrospect, Experian’s work with Good Shepherd opened my team’s eyes to the harsh realities of economic inequality. Simultaneously, though, it offered us an opportunity to address the problems we saw through the power of data – and to collaborate, think critically and deliver exceptional work. Now, the project stands as a testament to the power of data to facilitate social impact. Working with Good Shepherd was highly fulfilling, and I am proud of Experian’s role in promoting financial inclusion across Australia.
For the fourth consecutive year, Experian has been named to Forbes Magazine’s Top 100 list of the “World’s Most Innovative Companies.” At Experian, we are proud to foster a global culture of continuous innovation, from finding breakthroughs around better utilizing data to identifying ways we can make access to credit faster and simpler for millions around the world. The recognition as a top innovative company is a testament to our employees’ focus on putting the consumer and our customers at the center of what we do, and powering innovative opportunities to secure better, more productive futures for people and organizations. This past year has been a year of significant milestones, including our partnership with Finicity, the introduction of our Text for Credit product, and our drive to create a more open and adaptive technology environment by implementing API capabilities across the Experian network. In March, we were among the first companies to digitize the mortgage underwriting process. We partnered with Finicity to join our new Digital Verification Solution with their data aggregation and insight platform, creating technology that easily verifies consumer assets and income. This new service enables us improve data accuracy and reduce fraud risk for lenders, and removes the hassle and piles of paperwork for consumers, accelerating the loan underwriting process to as little as 10 days. In July, we introduced the first-ever credit solution that enables consumers to apply for credit with a simple text message. Utilizing patent-pending mobile identification through our Smart Lookup process, consumers can be recognized by their device credentials, bypassing the need to fill out a lengthy credit application. Our Text for Credit product enables consumers to apply for real-time access to credit while standing in line to make their purchases, or before entering an auto dealership. We’ve also implemented application programming interfaces (APIs) across the Experian network. This works to improve the transfer of data, speed up the pace of innovation and foster a more collaborative environment, enabling us to create a more efficient and targeted platform for our customers. Additionally, understanding that healthcare is becoming the “new retail” environment, Experian launched price transparency and patient estimate tools that provide health systems with real-time eligibility and insurance coverage to help patients avoid the sticker shock associated with unforeseen medical expenses. An industry’s greatest innovators are successful not only because they deliver superior products in the present, but also – and perhaps more importantly – because they continuously solidify their place in the future through a culture of discovery that encourages modernization and disruption. As author Greg Satell outlined in his new book, Mapping Innovation: A Playbook for Navigating a Disruptive Age, the work we do in our DataLabs – and throughout Experian – shows our commitment to being inventive and agile in an increasingly competitive market. Experian embraces a culture of discovery that enables us to grow and evolve while remaining at the forefront of innovation. Of course, the key is to never stop questioning, evolving and innovating. And we won’t.
A core theme of the European Union’s General Data Protection Regulation (EU GDPR), which is to keep consumer interests front of mind at all times, mirrors sound fundamental advice for all companies. Customer centric business practices are especially essential in the data-driven age, driving innovation and opportunity. The transparent, secure and effective use of data has transformative potential for consumers and businesses. But consumers must feel comfortable and in control of its opportunities, and there is a clear role for our industry to play in addressing their understandable concerns around privacy and security. In particular, there is a need for more openness about how data is collected and used for the benefit of consumers. In business, we are all aware of the advantages that data-driven technology can bring. Yet the way data is harnessed for good hasn’t, to date, been central part of the prevailing ‘data narrative’. At Experian, we process over 1,151 billion records a year, with a global segmentation of more than 2.3 billion consumers in more than 30 countries, and demographic data on over 700 million individuals and 270 million households combined. It’s a responsibility we take very seriously. We have always aspired to set new benchmarks for best practice in our operating standards and our approach to data stewardship. As a trusted data custodian for millions of consumers, we aim to unlock the power of data to create opportunities for individuals, businesses and society. The world is becoming more connected every day, and if businesses are serious about keeping up with the change, a truly holistic approach to managing all this data is required. One which protects our customers and our products from risks, such as an ever-increasing array of cyber threats, while ensuring the customer journey is as relevant and fluid as it needs to be. To help businesses to start thinking about how they can survive and thrive in the new regulatory environment, we’ve created a new whitepaper, ‘Defining the Data Powered Future’. It sets out some key steps that business should consider working through, our three ‘I’s – “Investigate”, “Improve” and “Integrate”. Businesses need to start to thinking about their implementation requirements now, if they haven’t already. And we hope this paper will offer some food for thought. It’s not good enough to feel ‘fairly confident’ that the data held is being used in the interests of the customer. It’s a requirement that new levels of scrutiny are applied here, and the customer’s perspective is the be-all and end-all guide to whether you are getting it right. With the advent of GDPR, this type of joined-up thinking will need to become the new normal, as the “datafication” of our world continues. I would encourage businesses of all shapes and sizes to take the opportunity that this moment brings. Now is the time to create a truly consumer-centric approach to data governance and strategy, and to secure your customer’s place at the heart of your data powered future.
Organizations everywhere are looking to do more with their data assets, as well as better leverage open data and third party data sources for additional consumer insight. The good news is that there is no shortage of information available. The bad news is that wrangling and making sense of all that information can be very challenging. That is why we see 61 percent of U.S. companies stating inaccurate data is undermining their ability to provide an excellent customer experience. However, there is a new breed of data professionals trying to change all that. New talent is coming into organizations looking to unlock the power of data to transform business operations and better serve clients. Businesses everywhere are eager to bring on these data professionals; to the point it is creating a frenzy around data staffing. If you are looking to hire new data professionals, you are certainly not alone. According to a new Experian Data Quality report, Investing in Digital Transformation: This Year’s Most Sought-After Data Roles, businesses are hiring a mix of business- and regulation-focused data positions. Below is a chart showing the top roles being hired according to U.S. respondents and also c-level executives specifically: There are a few key roles I want to highlight. First, data analysts. They are the most sought-after data role by U.S. organizations, mainly because they are so versatile. They are individuals placed across departments to analyze data in such a way that it can be used for business intelligence. 57% percent of businesses spend a majority of their time analyzing data, and this role is key to ensuring they’re getting the right results. The most important role for c-level executives is the chief data officer (CDO). The CDO has seen a lot of hype in the past few years and at this point we are seeing more general adoption of the role. This individual is responsible for developing and implementing an information strategy, which includes disciplines like data security, governance, quality, and management. They also will oversee a team of data professionals who bridge the gap between the business and IT. We have more research on this role in particular coming out next month, but they will often shape cross-functional data organizations and how well businesses can achieve the data insight they desire. In general, with all of these roles, talent shortages are a problem. Relative to demand, very few experienced individuals exist on the market. This means organizations need to come up with creative ways to attract and maintain this talent to keep up with the changing business landscape. For more information on these and other data roles, download a copy of our new report: Investing in digital transformation: This year’s most sought-after data roles. Download the complete \"The Year\'s Most Sought-After Data Roles\" report.
Believe it or not, my personal journey as a woman in data science started with physics. I was always very curious by nature and tried to understand what happens around me. I studied for both a master’s in physics in Spain and a Ph.D. in astrophysics in the Netherlands before making my shift from academia to industry (first in a Big Four consultancy and later in Experian). Gradually, I realized that I liked the academic side of working with data and applying the scientific method to solving problems, but I wanted to do something faster-paced that had more tangible impact. So, before finishing my Ph.D., I joined a data boot camp to further develop my skills, and after defending my thesis I transitioned to data science. Now I’m a full-fledged data scientist at Experian DataLabs. The world is at a very interesting time in terms of technology and innovation, and STEM fields are only going to continue growing. As a data scientist myself, I may be biased, but I think the future of this field is particularly interesting. I can see data being applied in such a variety of ways – from self-driving cars to early medical diagnoses and beyond. In fact, I don’t see the momentum slowing down any time soon, which means that data scientists will continue to be in high demand. I want to do something about the disproportionate amount of men to women in science, showing girls that STEM is for them, too. There’s no quick-fix solution, but I think it’s essential to start educating girls when they’re young about STEM – both at home and in school. Young girls should be encouraged to be curious, to try and fail! For me, data science isn’t about getting it right the first time; it’s about the path of discovery and innovation along the way. The sooner and the longer that girls are encouraged to explore and play with less-conventional toys, like computer games, construction toys or logic puzzles, the likelier they may be to choose careers based on what they personally enjoy doing and not what society expects them to do. Gender stereotypes can be really constraining, especially for children. So, what can a diverse workforce offer that a narrow one can’t? The answer is easy: different approaches, different views and different solutions. With more women in fields like data science, everyone benefits. No one should have to automatically rule themselves out of a career path based on gender.