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Innovation + Big Data Proves Winning Formula for Experian

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Forbes Magazine recently named Experian among the top 100 innovative companies in the world for the second year in a row.

Forbes has a rigorous selection methodology that places an emphasis on what organizations’ investors see as the most innovative today, but also the companies that investors believe will continue to be the most innovative in the future; Forbes calls this methodology the Innovation Premium.  Put simply, it’s the expectation that a company will launch new products and services and enter new markets to generate growth.

With this distinction, I am reminded of the many initiatives undertaken by Experian North America in the last year aimed at evolving its technologies and systems, all in an effort to deliver the highest-quality data, superior products, intelligent insights and best-in-class service to our customers.

A few of these initiatives include:

  • Experian Data Quality launched its first eCommerce offerings, allowing businesses of any size to quickly and easily see better value from their data assets.
  • Experian Marketing Services transformed its marketing portfolio in the last two years – bringing together the synergies in the portfolio to deliver a differentiated proposition in the market. This transformation culminated with the launch of the Experian Marketing Suite, a marketing platform that unifies Experian’s unique capabilities in customer identity and recognition, consumer data, analytics and technology.
  • Experian Consumer Services offered new apps to help consumers quickly and easily review and understand their Experian credit reports and FICO Scores.
  • To ensure our ongoing commitment to data quality standards specific to consumer reported data, Experian created nimble technologies to identify business opportunities for clients and improve the quality of consumers’ credit reports.
  • Experian Health introduced a number of new and innovative solutions to help hospitals, medical providers and patients address challenges, such as continuation of care, financial assistance, fraud and identity protection throughout the healthcare process.
  • Our Business Information Services group introduced a new Global Data Network that provides businesses with insight into their international customers and vendors, enabling them to assess risk and become more competitive in the marketplace.
  • To help companies manage risk and mitigate fraud, our Decision Analytics business recently launched a new dedicated enterprise Fraud and ID business in North America to more aggressively address the growing variety of fraud risk and identity management challenges businesses, financial institutions and government agencies face.
  • In an effort to help its clients track loyalty rates, Experian Automotive reengineered its data sources to standardize a new loyalty measurement model at the manufacturer, brand and dealer levels.

We’re proud that Forbes Magazine continues to view Experian as a forward-thinking and innovative company. But Experian isn’t resting on its laurels. We are continuing the ongoing process of looking at ways to serve our customers better by investing in innovation.

In fact, Experian holds an annual innovation program that brings together talented employees from across our businesses to research, build and test new concepts that address emerging market challenges that can benefit from Experian’s data and insights.

Data can be and must be used as a force for good. Match it with the proper technologies and systems, and we are in a position to help businesses, consumers, government and society overall.