Big data for financial services is here

Financial institutions have invested in Big Data for many years in order to make sense of the massive amounts of information that they capture, including:

• Customer information and their performance over time
• Transactional information and marketing campaigns
• Different customer views in various databases (e.g., CRM and application systems)
• Prospects, partnerships, market demographics and even competition
• Consumer and business credit data

The concept of trying to gain insight into your data is nothing new. However, new advances in technology infrastructure have opened the door for leveraging these data caches for better customer insights and strategy development in a way that is simple and cost-effective.

Experian Analytical Sandbox™
Since the launch of Experian Analytical Sandbox, our clients are discovering that Big Data provides limitless insight into customer trends and provides them with the tools they need to keep ahead of the competition. Experian Analytical Sandbox empowers analysts to:

• Link in-house applications data with credit information in a depersonalized manner
• Research and analyze market trends
• Validate and expand acquisition, risk and marketing strategies
• Conduct-wallet share and benchmarking analysis