the future of information - experian knows big data analytics
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©2014 Experian Information Solutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks ofExperian Information Solutions, Inc. Other product and company names mentioned herein are the trademarks of their respective owners.No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of Experian. Experian Public.
What is the Future of Information?
2©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Big data and analytics
“Information is the oil of the 21st century, and analytics is the combustion engine”
- Peter SondergaardSenior Vice President
Gartner
3©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
It’s a whole new world
It’s a radical shift in how people and businesses interact
A 440% increase in digital media content over the next 10 years
Real-time, data-driven processes are the new standard
Solving client problems that were unsolvable before
Consumers expect a higher level of service in exchange for loyalty
4©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Understanding, managing and analysing data is the core of our success
Trusted expert for delivering insight from large volumes and varieties of information
Balancing a business and science approach to help decision makers understand what matters most
Helping clients across 70 countries build meaningful customer relationships
30 years of global leadership
5©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
We have the people and tools: data, analytics, talent and experience; plus the global footprint
We help our clients transform their business through data science
DataLabs creating breakthroughs in data experimentation and innovation
Credit, fraud and marketing information unmatched for breadth, depth, and quality
Helping clients with the improvement of data and model risk management practices
Data is in our DNA
6©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Experience-driven design
More than 2,800 technologists and over 400 data scientists worldwide, including Global DataLabs in 3 major markets
Applied research teams in advanced analytics, machine learning and computer science
Ensuring the best fit of data and analytics to optimize business performance
Bringing our analytic expertise to you
7©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Answering the challenges of big data
Harnessing the power of data to better understand your customers and drive competitive advantage
Safeguarding and promoting the proper use of data in consumer strategies and decisions
Client confidence in decisions
8©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Why Experian?
9©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
The data universe is growing
We’re constantly exploring new data Mobile network operator data
Linking social media to commercial credit
Transaction and payment data
Location data
Psychographic and economic data
Experian knows big data 19 credit information
and 13 business information bureaux
Credit data on 600 million consumers & 60 million businesses
Demographic data on 260+ million households
Online behaviour data for 25 million users across 5 million websites
10©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
… and expanding
Experian knows big data
4TB of raw Internet usage each day
Processing 45 billion small business records a year
Segmenting 2.3 billion consumers & 700 million households across 28 countries
7.8 billion vehicle records globally
11©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Gradient-boosted decision trees Latent Dirichlet allocation Deep network and deep learning
Pattern extraction and model
development
Extracting patterns
Advanced analytics Descriptive
Gain insights with use of scorecards and reporting
PredictiveIdentify risks and potential from patterns in transactions
Prescriptive Improve decisions through simulation and optimisation
12©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Extracting patterns
Income/wealth estimation
Social network analysis
Churn/attrition management
Consumer propensities
Customer journey
Digital audience
Attribution
analysis
Loss forecasting
Trended behaviours
Sequence mining
Risk exposure
Channel strategies
Targeted strategic insight
Financial services and banks
Telecommunications and utilities
Insurance
Healthcare
Retail
Travel
Leisure and media
Automotive
Public sector
Deployed across multiple markets
13©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Putting analytics into action
We create client solutions using the very best analytical tools to build our models
We deploy algorithms and models into our client’s operational environment to deliver on big data needs for speed and agility
Our technology aptitudeMarketSwitchPowerCurve
HadoopHive
MALLETR
Python
14©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Practical applications of big data and analytics
15©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What can you tell about business performance through social media?
METHODOLOGY RESULTSOPPORTUNITY
“French toast is so good and the portions are pretty large"
Not all information is structured to give you simple insight. By pulling unstructured data such as online reviews, you can dive deeper into performance than looking at the star rating or number of likes.
16©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What can you tell about business performance through social media?
METHODOLOGY RESULTSOPPORTUNITY
Using Yelp! HTML, we parsed reviews through Natural Language Processing
Parsing reviews into sentences Parsing sentences into words and punctuation Part-of-speech tagging Phrase structure tree parsing Typed dependency
17©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What can you tell about business performance through social media?
METHODOLOGY RESULTSOPPORTUNITY
We were able to convert unstructured business reviews into modelling attributes and to identify main aspects of business
Aspect discovery Sentiment analysis – Do consumers feel good
about your product or services? Business performance – Are people purchasing
goods and services?
18©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can we improve analytics to increase the speed and accuracy of fraud detection?
METHODOLOGY RESULTSOPPORTUNITY
Develop a product that makes use of all the analytical power available and can scale
Market demands faster response time Over 8TB of records to process 19 structured and semi-structured files Current technology focuses on batch processing No single commercial or open source tool offers
this functionality Maximise data usage Cost effective
19©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can we improve analytics to increase the speed and accuracy of fraud detection?
METHODOLOGY RESULTSOPPORTUNITY
Created new PreciseMatchSM platform from two open source platforms and custom components
Two Step Process► Created indexed repository shards
► Allowed loading of new search cluster
Fraud Big Data cluster► Built 32 physical hardware instances
► Two PreciseMatch core engines, 14 active-active search engines, 16 batch map-reduce engines
20©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can we improve analytics to increase the speed and accuracy of fraud detection?
METHODOLOGY RESULTSOPPORTUNITY
We are able to improve match rates and fraud scores allowing us to introduce smarter, real time fraud detection
Allowed for creation of 400 new results codes Absolute improvement of 25%+ fraud
detection rate High-confidence match improves 14% Medium-confidence match improves 17% Serves as base for new real-time search
platform Places product in competitive advantage
21©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What insights can be gained from customer spend data?
METHODOLOGY RESULTSOPPORTUNITY
Gain deep insights into customer preferences and behaviours through card transaction data
Opportunities► Increase share of wallet► Greater credit risk insight► Stimulate spend activity► Impact attrition and loyalty► More targeted product offers
Challenges► Massive amount of data► Continuously updated and changing► Incredible variance between customers
22©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What insights can be gained from customer spend data?
METHODOLOGY RESULTSOPPORTUNITY
Applied new technologies and techniques to analyse card spending across multiple dimensions
New technologies► Parallel processing techniques to efficiently
process “Big Data”● Hadoop – Hive – Pig
New analytical techniques► New techniques to effectively interpret messy,
complex data● Latent Dirichlet Allocation / Topic Modelling● Collaborative filtering● Signal processing
23©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What insights can be gained from customer spend data?
METHODOLOGY RESULTSOPPORTUNITY
A suite of transaction driven tools to encourage growth in customer relationships and stimulate spending
Lifestyle Segmentation► Machine driven segmentation based on spend patterns
to identify customer groups with “like” spending preferences
Merchant Offer Recommendations► Similarity Index allows for recommendations of similar
merchants ► Leverage recommendations by target, channel and
offer through customer or merchant
Customer Spend Alerts► Timely alerts on attrition risk allowing for intervention► Uniquely customised based on customers’ historical
spend behaviour
24©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can budget allocation across marketing channels be improved to achieve better results?
METHODOLOGY RESULTSOPPORTUNITY
Rise above campaign measurements to see across all channels to reduce number of uneducated-guesses and ad hoc processes
Ability to measure lift of specific campaigns in email, direct mail, bill insert and messaging promotions
Data disintegration prevents sound decisions Lack of attribution solution and organisational
reluctance Transparency at the micro-level, but not across
macro-channel
25©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can budget allocation across marketing channels be improved to achieve better results?
METHODOLOGY RESULTSOPPORTUNITY
Needed to create a hybrid of current best-practice solutions and custom analytics model
Technology► Based on Experian Marketing Services Response
Attribution Platform
Analytical Techniques► Proportionally allocate response across campaign
touches
► Measure all channels and correlate response volume
► Strength of correlation calculates pair-wise channel weights without individual level campaign data
26©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can budget allocation across marketing channels be improved to achieve better results?
METHODOLOGY RESULTSOPPORTUNITY
Ability to move 13.5% in budget from one channel and redistribute gaining 220,000 new responses
Creating smarter marketing spending Now able to create what-if analysis against
channels Creating flexible platform, modelling portfolio
and process Enhancing media mix guidance Creating dashboard for daily results allowing for
real time budget adjustments
27©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
How can we improve customer engagement in a retail marketing campaign?
METHODOLOGY RESULTSOPPORTUNITY
51M logged campaign events including transactions to give us greater insight into increasing smarter engagement
Measure positive/negative trends in engagement
Impact email click through Improve purchases of new product or increasing
value of existing product
28©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
How can we improve customer engagement in a retail marketing campaign?
METHODOLOGY RESULTSOPPORTUNITY
Factor analysis with class clustering and hierarchical clustering
Technology► Alteryx, R and Tableau
Analytical Techniques► Dynamic segmentation (Frequency/trends/interest)
► Factor analysis
► Two-stage clustering
29©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
How can we improve customer engagement in a retail marketing campaign?
METHODOLOGY RESULTSOPPORTUNITY
Developed ability to increase marketing pressure and improve campaign planning
Marketing content used to measure which campaign performs better
15% less email allows for a decrease in marketing frequency and increases smarter engagement
Increase revenue and click rate more than 27% Spam decreased more than 50%
30©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can you identify the key influencers in a group?
METHODOLOGY RESULTSOPPORTUNITY
Identify the opinion leaders of health care to boost sales and awareness of pharmaceuticals
Ability to determine real influence rather than just popularity
Use professional and academic data to pinpoint individuals
31©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can you identify the key influencers in a group?
METHODOLOGY RESULTSOPPORTUNITY
Build a real network relationship around individual doctors
Technology: Gephi and SQL 14 unique data sources including building specific
bots to scrape web data Over 288M diverse data points Network analysis including
► Reputation both academic and professional
► Geographic area of influence
► Degrees of relationship
32©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
Can you identify the key influencers in a group?
METHODOLOGY RESULTSOPPORTUNITY
Able to identify and score influencers in a professional group
Scored individual doctors on ability to influence their peers
Able to measure the intensity of a relationship Ability to reach a specific target for research,
sales, thought leadership, recommendations
33©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
What insight can Experian help you draw from data?
What do you want the audience to do?
Let’s work together to help
your organisation unlock
big data to benefit both
your customers and your
bottom line.
Contact us at:
bigdatainfo@experian.com
34©2014 Experian Information Solutions, Inc. All rights reserved.Experian Public.
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