Keyword tags:
Big Data
Cloud Storage
Experian is integrating Cloudera Enterprise onto its cloud environment for its Credit Information Services, Decision Analytics and Business Information Services business lines.
Accessing big data from Experian through Cloudera’s platform, offers organisations a major competitive advantage that allows them to make critical business decisions in milliseconds.
According to Barry Libenson, Experian Global Chief Information Officer, “Data is at the core of our product innovation and technology strategy. Our partnership with Cloudera enables a flexible data discovery architecture which improves our already robust infrastructure, and helps clients solve their most challenging business problems. Having a multi-tenant data management environment in place across our business lines is essential as clients require this kind of agility and speed in data analytics today.”
Solving complex credit underwriting problems in account management, customer acquisitions and collections using advanced analytical models is where Experian helps businesses achieve more. One example is the Experian Analytical Sandbox, which benefits clients through combined data and improved technology. This innovative environment provides data scientists the velocity to create analytical models to solve for their specific financial issues within their business.
Alex Lintner, Experian President of Consumer Information Services said, “Financial services companies require cutting edge technology to meet the demands of a changing demographic and regulatory environment, especially as more customer relationships move to digital channels. Powerful new technologies, like big data, advanced analytics with machine learning, let Experian explore the information we collect to help our customers operate better.”
For instance, one client organisation experienced an issue understanding the implications for home equity loans nearing end-of-draw. Using Experian’s Cloudera solution, the data analysis which originally took six months to accomplish was completed in just a few hours. This analysis enabled the organisation to decide how to manage its home equity portfolio to meet the needs of its business and customers.
Mike Olson, Founder and Chief Strategy Officer for Cloudera also said, “Experian needed a fast, easy and secure platform to help expedite critical decisions about credit. Those decisions demand more data and a much richer analytic toolbox than before. Cloudera’s modern platform allows Experian to ingest data in real time, clean and organize it and then apply powerful techniques using statistics and machine learning to better understand markets and risk.”