Video: Global Insights Report highlights – October 2021

November 22, 2021 by Managing Editor, Experian Decision Analytics

How is Covid-19 impacting digital consumer behaviour and business strategy?

To find out, we surveyed 12,000 companies and 3,600 businesses across 10 countries as part of a longitudinal study that started in June 2020. Watch the video for an overview of the results or download the full report.

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This is what we discovered:

Heightened consumer expectations is paving the way for digital innovation.

  • 59% of businesses are mostly or completely recovered from the pandemic.
  • And 47% of consumers are somewhat or completely recovered.
  • As economic stability returns and spending resumes.
  • Consumers are most concerned with online security and convenience.
  • Businesses are leveraging advanced decisioning technology to simultaneously meet security and convenience expectations.
  • Innovative decisioning technologies across fraud and credit are improving the customer experience and levelling the playing field.
  • With 42% of consumers happy to share personal information and adoption of AI increasing significantly across businesses – from 69% in 2020 to 74% in 2021.
  • AI, machine learning, and advanced analytics are helping businesses of all sizes to improve:
    • Digital decisioning
    • Credit risk management
    • Fraud prevention and more.
  • Digital investment has become a differentiator – in the race to improve digital customer experience there is no standing still.
  • Those lagging behind can lose customers and opportunities.
  • That’s why businesses across the globe are prioritising digital engagement and digital acquisition.
  • With 76% improving analytics models and over 60% planning to increase fraud detection and credit risk analytics budgets.
  • Since the start of the pandemic, there has been a 25% increase in digital transactions globally.
  • Online activity and high consumer expectations are here to stay.
  • By adopting digital solutions that separate them from the competition, businesses can thrive in 2022.

Watch the video for an overview of the results or download the full report.

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