Data has never been more plentiful - or more important - to how the government operates. Agencies in the public sector are mobilizing and modernizing legacy systems and processes in order to improve citizen experience. This means that data, technology, and the people to optimize the two are more critical than ever to success in these areas.
We surveyed 200 public sector professionals from federal, state, and local government, health and human services, motor vehicles, labor and unemployment, and law enforcement with visibility into their agency's data management practices. Read this research study to learn:
Digital business demands trustworthy data. Today's businesses are sophisticated and are powered by the vast amounts of data collected. As the volume, type of, and reliance on data grows, so does the need for better people, processes, and tools to make the most of those data assets.
That's why we have been following and analyzing trends in data management around the world for the past several years. We're excited to introduce this year's, 2018 global data benchmark report, which takes a deep dive into the latest advancements, challenges, and focuses within the data management industry.
In this report, you'll find:
Credit utilization rates expanded briskly in the first quarter of 2017. Taken with upside risk, which at the moment outweighs downside risk, credit conditions for small businesses are looking up. Rates of severe delinquency are declining broadly, and credit constraints should ease as a result. However, balance growth is threatened by the lack of clarity regarding fiscal policies. Small-business credit will be defined this year by what happens with the potential revisions to government policies and how full or nearly full employment translates into activity for small firms.
In our new report, we analyze more than 17 million consumer mortgage, auto, student, personal loan and bankcard accounts that were once in an accommodation status and provide predictive insights into these consumers, including those who will be exiting these programs. Learn more about key findings and get recommendations and strategies that you can implement now.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
The fourth quarter of 2021 enhanced the pressure felt by small businesses as the largest wave of COVID-19 hit the US. In addition to the effects of pandemic outbreak of labor and consumer engagement, an inflationary surge, largest increase since 1982, coupled with pandemic-related supply-and-demand imbalances, weighed heavily on US small businesses along with a notable impact to consumer sentiment.
Although workers were getting raises in the currently tight job market, rapid price increases are eroding consumers’ earning power. Average wage earnings went up by 4.0% in Q4 ’21 vs. the previous year, yet a 7.5% increase in inflation results in a net decline in real earnings. Workers’ money is not going as far as it used to. Rising wages, however, put pressure on businesses’ payrolls who may be forced to pass those costs to consumers.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this report.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Small business credit performance was mixed in the third quarter as businesses dealt with the COVID-19 Delta variant. Early stage delinquency rates rose modestly while late state delinquency and bankruptcy rates fell decisively. With daily COVID cases falling, demand for goods and services should rise in coming quarters. Downside risks are concentrated on the supply side with businesses struggling to hire workers and dealing with supply chain stress.
Mortgage lenders are preparing now for the end of CARES Act forbearances and are focused on assessing the impact on their portfolios as borrowers exit accommodation. In our latest Experian analysis, we explore how mortgage lenders can more accurately gauge this impact and strategies to help navigate the current mortgage landscape.
Dive into this report for an in-depth analysis on COVID-19 economic scenarios as of October 2021 and what they mean for potential trajectories of the economy.
The report, featuring key insights from Mohammed Chaudhri, Experian Chief Economist, provides a deep dive on recent GDP data, trends, and forecast scenarios.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
The acceleration to digital platforms created a perfect storm of new opportunities for fraudsters. Synthetic identity fraud, stimulus-related fraud, and other types of cybercrime have seen huge upticks within the past year and a half. In fact, the Federal Trade Commission revealed that consumers reported over 360,000 complaints, resulting in more than $545 million in COVID-19-related fraud losses as of September 2021. To protect both themselves and consumers, businesses — especially lenders — will have to find and incorporate new strategies to identify customers, deter fraudsters and mitigate cybercrime.
Small businesses increased hiring for the holidays funded by credit while servicing their outstanding debts. The moderately delinquent balances for small businesses declined to 1.21 percent in the fourth quarter from 1.60 percent at the same time last year. Taxes are a rising issue for small businesses, but increasing concerns here did not dampen borrowing or hiring in the fourth quarter. The availability of credit has cushioned the blow of the pandemic for now and a third stimulus will help insulate small businesses from altered consumer spending patterns.
As some industries struggle to contain price increases and to survive in a post-pandemic world, others are thriving on the back of economic reopenings driving consumption. Reopenings and the release of pent-up demand for services is pushing up economic growth and powering an economic recovery that will be among the fastest in modern times.
In this Economic Scenarios report, Experian’s Chief Economist, Mohammed Chaudhri, lays out his mid-year forecasts for the path of the U.S. economy. The report delivers in-depth analysis on economic scenarios and how COVID-19 and other trends could impact our growth trajectory.
Download now to get the latest insight as of Q2 2021 on:
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
At the end of March 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and provided accommodations – payment assistance or relief – to consumers affected by the pandemic. Now that the accommodations period is ending, how can lenders better predict the future payment performance of each account and identify consumers that still need additional assistance?
In our new report, we analyze more than 8 million consumer mortgage, auto, personal loan, and bankcard accounts that were once in an accommodation status and provide predictive insights into these consumers, including those who will be exiting these programs. Learn more about key findings and get recommendations and strategies that you can implement now.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
The coronavirus pandemic has dramatically impacted consumers and businesses alike, but the beginning of the end is here. After over a year fraught with caution and closures, the U.S. economy is embarking on the journey to recovery and the post-pandemic world is emerging.
In this report, we track key economic indicators to examine the pace of recovery from the COVID-19 recession and analyze the impacts on the credit market in both the immediate and short-term future. We also examine the aggregate impact of payment assistance programs, describe five key types of fraud we’re watching and advise how to protect against them, and evaluate the growing value of tools, including AI/ML, alternative data, and employment verification.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
IDC describes how new market entrants are offering employment and income verification alternatives to address some of the key challenges facing lenders today.
Learn how real time customer verifications accelerate loan origination, lower costs, and improve risk assessment to help you gain a competitive advantage.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Dive into this report for an in-depth analysis on COVID-19 economic scenarios as of March 2021 and what they mean for potential trajectories of the economy – with all-new data for Q1.
The report, featuring key insights from Mohammed Chaudhri, Experian Chief Economist, provides a deep dive on:
Click the button below to download the report.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Small businesses increased hiring for the holidays funded by credit while servicing their outstanding debts. The moderately delinquent balances for small businesses declined to 1.21 percent in the fourth quarter from 1.60 percent at the same time last year. Taxes are a rising issue for small businesses, but increasing concerns here did not dampen borrowing or hiring in the fourth quarter. The availability of credit has cushioned the blow of the pandemic for now and a third stimulus will help insulate small businesses from altered consumer spending patterns.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
In a fight for survival small businesses have turned to layoffs and borrowing as they attempt to reach the other side of COVID-19. Increasing borrowing is helping to mask rising late-stage delinquencies and bankruptcy. Layoffs and borrowing can only mask weakness for so long until a reckoning will arrive. A new round of government stimulus could mitigate this reckoning but doesn’t appear likely to arrive before year’s end. This will push more small businesses to again borrow for survival. When new borrowing is no longer a necessity delinquency and bankruptcies will rise.
Explore state-level and industry-level data that banks, credit unions, and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Read our new report delivering in-depth analysis on COVID-19 economic scenarios as of October 2020 and what they mean for potential trajectories of the economy – with all-new data for Q4.
The report, featuring key insights from Mohammed Chaudhri, Experian Chief Economist, provides a deep dive on:
Small businesses have turned to borrowing to survive periods of prolonged slumping sales, in many cases from government programs offering loan forgiveness. This increased borrowing has masked rising delinquent balances, but such a solution is a short-term fix. Small businesses will need to find ways to generate revenue to keep their credit current. Defaults are expected to rise in coming quarters as forbearance programs expire and as customers are likely to change their priorities in the wake of COVID-19.
After only one quarter there is no doubt the theme of 2020 is the pandemic, Covid-19. Unrelated to the pandemic and subsequent shuttering of a swath of economies across the world, delinquencies rose in the first quarter. This was as businesses reduced their borrowing. Lower borrowing will not have lasted long as government efforts to aid small businesses have taken the form of SBA lending. Nevertheless, 2020 will be a year of deteriorating performance and rising bankruptcies for small enterprises.
Clarity Services, a part of Experian, provides valuable alternative credit data to alternative financial service providers. Clarity’s alternative data gives lenders a more complete picture of nonprime applicants, so they can make better and more informed decisions.
This report is packed with five years of Clarity data and enhanced with additional insights from Experian’s national credit bureau. From market trends to changes in loan characteristics, the data inside will leave you more informed of the nonprime market than you’ve ever been before.
Download our latest white paper to learn more.
Confidence in a US-China trade deal helped to cushion business borrowing in the fourth quarter. Delinquent balances were up over the quarter due mainly to seasonal trends but were down from last year thanks to the continuation of the economy’s expansion. Weakness continued in agriculture and manufacturing businesses, but a trade deal could help these firms next year. All things considered, 2019 was a good year for small-business borrowing, and 2020 should bring more of the same.
Talk of a trade deal helped to shape the narrative for the third quarter, but there is more at play for small businesses than trade. Delinquency rates fell across most industries, but agriculture-related industries like construction and transportation had a rough quarter. A rising number of small businesses seeking credit should help to keep performance around current levels.
Fintech is now synonymous with constant innovation, agile technology structures, and being on the cusp of the future of finance—fintech challengers; companies who are disrupting existing financial models by leveraging data, advanced analytics, and technology. These challengers have since inspired traditional financial institutions to either emulate or collaborate. Learn how fintechs are faring against traditional FIs with this must-have eBook.
In spite of business confidence in the second quarter being shaken by talk of trade war escalation, businesses got a helping hand from seasonal factors which combined to push delinquency rates down. New businesses continue to form, providing an opportunity for credit expansion, if these businesses can access credit. Delinquency rates fell across most industries, but agriculture’s problems continued as weather and trade conditions continued to weigh on small farms. These factors won’t be as helpful in the third quarter so fundamentals or confidence will need to improve to propel performance and growth forward.
GOVERNING Institute surveyed 150 State and Local government leaders and discuss the growing need for eligibility verification and the prevalence of fraud across government agencies.
Download the study to learn more.
Small businesses brushed off a government shutdown as stock markets recovered and income gains remained steady in the first quarter of 2019. Delinquency rates remained mostly stable, with pockets of weakness spread out among regions and industries, notably agriculture in the Great Lakes and manufacturing in the Southwest. Small firms seem to have simply shrugged off the first-quarter headwinds and continued with business as usual.
The fourth quarter capped a second year of solid performance and growth for small-business credit, but there are signs that the period of moderation experienced during the past two years is over. Since the government shutdown has the potential to throw small-business lending a curveball in the first half of 2019, the outlook for small-business credit is neutral. Conditions were positive in the fourth quarter, but this may not last long. Delinquency rates remained mostly stable, with pockets of weakness spread out among regions and industries, notably construction in the Plains. In addition to the 35-day shutdown, rising interest rates, destabilizing trade policy and slowing home-price growth are potential trouble sources that are already starting to impact some regions.
The overall outlook for small-business credit is positive. Outstanding balances rose in the second quarter, as did the average balance per business. Delinquency rates continued the downward trend they have maintained through the expansion, and default rates stabilized at the level they reached last quarter. Continuing strength in the economy will keep small-business credit performance strong through the end of the current expansion, if not longer. Rising rates and destabilizing trade policy are potential sources of trouble, but thus far they haven’t slowed down small-business credit growth.
The overall outlook for small-business credit is positive, but some industries such as construction have a negative outlook. Outstanding balances rose in the third quarter, as did the average balance per business. Delinquency rates are stable around their current levels, but this could change quickly if risks mount for certain industries. Continuing strength in the economy should keep small business credit performance in check through the fourth quarter and early next year. Rising interest rates, destabilizing trade policy, and slowing home price growth are potential sources of trouble that are already starting to impact some regions.
Business leaders today recognize a myriad of benefits the digital economy has to offer, such as improved customer experience and better insight for decision-making. Despite these advantages, organizations struggle to deliver the experience they would like, and data isn’t always in a suitable state to be used for this purpose.
This study provides a unique perspective on customer experience as it relates to digital transformation priorities and challenges. Check out the full report for our in-depth analysis and key findings, such as:
The overall outlook for small-business credit is positive. Outstanding balances rose in the first quarter, as did the average balance outstanding per business. Delinquencies were down and default rates rose slightly, suggesting that credit conditions have peaked as the economy is in a late-cycle expansion. Continuing strength in the macroeconomy will keep small-business credit moving in the near term, along with higher profits from the recently passed tax legislation. Small-business credit will be less certain in the medium to long term as rising wages, interest rates and changes to the tax code take a toll.
The overall outlook for small-business credit is positive. Outstanding balances rose in the fourth quarter, as did the average balance outstanding per business. Delinquency and default rates rose slightly, suggesting that credit conditions have loosened. Continuing strength in the macroeconomy will keep small business moving in the near term, along with higher profits from the recently passed tax legislation. Small-business credit will be less certain in the medium to long term as rising wages and tax code changes take a toll.
The overall outlook for small-business credit is stable. Outstanding balances on small-business credit declined slightly in the third quarter, continuing a two-year trend. Delinquency and default rates were steady to declining, and business balance sheets continue to improve. Continued improvement in the labor market and economic growth bodes well for credit performance in the short term. Despite the overall optimism, pockets of localized weakness are developing and will warrant observation over the next few quarters.
Most companies are likely to undergo a data migration project at some point. Our 2017 global data benchmark report revealed that 83% of data migrations fail or exceed their budgets and schedules. Given all this business investment, doesn't it make sense to invest in the quality of data being migrated before it costs your organization?
This white paper takes a look at the biggest obstacles in data migrations, how to complete a migration project in time and on budget, and provides a pre-migration impact assessment checklist to ensure your data migration success.
Small-business delinquency rates experienced broad-based improvement in the second quarter. With job growth expected to continue, putting more money in consumers’ pockets, small businesses will continue to outperform in the short term. As performance on small-business loans and lines of credit improves, credit is expected to flow more freely as banks and other lenders compete for business. Although tax reform and infrastructure investment could provide an additional boost to small-business activity, consumer spending will be the driving force for small-business credit over the next quarter — and throughout the rest of the year. Read our blog post for more details.
As organizations today look to their data to power business opportunities, the role of the chief data officer (CDO) is becoming increasingly mission-critical. While the value a CDO brings to businesses is widely acknowledged by C-level executives, not all CDOs are set up for success. In our latest research report, Experian Data Quality spoke with over 50 CDOs to understand how their roles have changed in recent years, and how the realities of the position may differ from CDOs' expectations.
Small business credit balances expanded broadly in the fourth quarter driving delinquency rates down. Taken with upside risk, which at the moment outweighs downside risk, credit conditions for small businesses are looking up. Balances are growing in the Southeast and West, and delinquency rates are low throughout the country. The theme for 2017 will be robust balance growth and falling delinquencies. Combined with the prospect of tax reform, small businesses look set to thrive in the near future.
Organizations today recognize the importance of the data they hold, but a general lack of trust in the quality of their data prevents them from achieving strategic business objectives. For 2017, Experian Data Quality's global data management benchmark report looks at responses from more than 1,400 data management professionals across the globe to understand how data is being used within organizations and how perceived trust in that data impacts business priorities.
Small-business credit declined slightly in the third quarter, led by the mining and transportation/utility industries. Businesses have access to plenty of credit, and utilization rates remain low. The low delinquency/bankruptcy environment combined with low utilization rates leads to an overall positive outlook over the next several quarters. However, this optimism could change rapidly if interest rates rise or slow economic growth persists. Agriculture and construction credit remain bright points in the small-business credit outlook. Despite some downside risks, the sectors remain stable and well-positioned for growth.
At Experian Data Quality, we believe data is at the heart of every organization, and the quality of that data is fundamental to future business success. If you're looking to implement a data quality program at your organization, it's likely that you'll need to present a case to your business's leadership. We surveyed more than 400 professionals around the globe who have direct experience with developing proposals for data quality to learn about the challenges they faced and how they achieved success. In this report, we discuss our findings from this unique study and provide proven best practices to help you expedite the process of putting forward a proposal for data quality. At the end of the report, you'll find a business impact worksheet that will help you to identify and quantify data quality needs at your organization.
Telephone Consumer Protection Act (TCPA) litigation continues to be a risk for companies that communicate with consumers. In this Q&A, Expert Michael Goodman will help you understand the latest happenings with the TCPA so you can minimize your exposure.
The Experian/Moody’s Analytics Main Street Report brings deep insight into the overall financial well-being of the small-business landscape. Small-business credit conditions improved in the second quarter. With the exception of some specific segments, delinquency and bankruptcy rates declined. Sentiment among small businesses is positive, with 11 percent planning to increase employment and 26 percent considering additional capital investment. Despite some downside risks, the sectors remain stable and well-positioned for growth.
Key findings include:
In this report's spotlight on section, we examine mobile text message campaigns and their performance over the past 5 months. Download the report to learn more about how consumers are interacting with mobile.
As marketers apply a more customer-centric, cross-channel approach to their marketing efforts, mobile has become one the most critical channels and tools for marketers to effectively acquire, engage and convert customers.
The guide includes:
This guide contains data from our quarterly email benchmark series. To download the latest email benchmark report, click here.
Experian®, the leading global information services company, and Moody’s Analytics have teamed up to develop the new Experian/Moody’s Analytics Main Street Report. Unlike previous quarterly analyses, the new report brings deeper insight into the overall financial well-being of the small-business landscape, as well as providing commentary around what certain trends mean for credit grantors and the small-business community as a whole. Key factors of the Main Street Report include a combination of business credit data (credit balances, delinquency rates, utilization rates, etc.) and macroeconomic information (employment rates, income, retail sales, investments, etc.).
The 2016 Digital Marketer Report covers the top challenges and priorities of marketers today, with a special focus on what we heard from executive-level marketers at enterprise companies. The research includes insights from more than 1,100 marketers around the world, plus Experian Marketing Services’ expert analysts.
The Relevancy Group’s annual assessment of email marketing service providers has been released for 2016, and Experian Marketing Services took the top spot in the report among all vendors, coming out as both the largest ESP and #1 in the Leader’s Ring.
Our top placement can be attributed to a number of positives, including:
Insights from more than 1,000 marketers worldwide
The 2015 Digital Marketer Report provides trends, benchmarks, best practice examples and insights from our expert analysts on topics such as:
Every year, Experian Data Quality conducts a study to look at the global trends in data quality. This year, research findings reveal how data practitioners are leveraging and managing data to generate actionable insight, and how proper data management is becoming an organization-wide imperative. Our annual global benchmark report takes a close look at the data quality and data management initiatives driving today's businesses. See where you line up and where you can improve.
In 2008, a short two years after the first online marketplace lenders opened for business, the Great Recession began to wreak havoc on worldwide financial markets. Small businesses struggled to survive, banks failed and access to capital was limited. More online lenders saw an opportunity and opend for business. These technology-driven newcomers hired an army of data scientists, coders and digital marketers. In the fall of 2015 the innovation, industry disruption and regulatory uncertainty that characterize this dynamic sector led Experian to produce a series of articles focusing on different aspects of online marketplace lending. This report contains those articles.
Whether you are a federal, state or local government professional, we have the comprehensive data and integrated analytics you need to prevent fraud, waste and abuse, verify eligibility requirements, protect against cyber-security threats and improve collection outcomes. Please complete this short survey for us to best identify your area of need. You will then receive resources to help your agency succeed.
As companies across the globe realize the transformative effects of better harnessing their data, a new role is growing in popularity: the chief data officer (CDO). To better understand this trend, Experian Data Quality conducted a study of CIOs and CDOs to understand typical data challenges within organizations, the changing data management landscape and the growing need for the CDO (and consequences for CIOs). Key findings and CDO-related statistics are detailed in our comprehensive report. Download our CDO Research report to learn more.
In this update we report on improvements in our data coverage and provide a progress report on alternate data sources.
In this update we provide an overview of Commercial Risk Database Plus along with data quality improvement statistics.
According to a recent data breach preparedness study by the Ponemon Institute, much has changed in the world of data breaches in the past year; some are positive, others a bit more challenging. It's no secret that, according to the study, more companies suffered a data breach in 2013 versus the year before.
The more organizations can do to prepare themselves, by developing and maintaining a comprehensive data breach response plan, the better off they will be in the months and years to come.
Turning the page from recovery to growth, small businesses continue to have access to a wider availability of credit, as credit conditions reached the highest level on record, improving for the third consecutive quarter. Outstanding credit balances grew by 2.2 percent from a year ago, while delinquency rates declined to a cyclical low of 8.5 percent, both of which contributed to the improvement in the index.
Over $1 billion paid out in fraudulent benefit claims & social housing provision could be eradicated if simple fraud-prevention techniques were implemented more widely across the public sector.
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