Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
Believe it or not, we are halfway through 2017 and if you're feeling like you're no where near achieving what you set out to achieve this year, I'm sure you're not alone. But fear not! If one of your resolutions this year was to research how to apply data analytics or machine learning to your area of specialisation - be it Marketing, Customer Experience, Debt Collection or Risk Management - you still have time! And our Data Analytics Blog is a good place to start. I've looked at the stats and compiled our Top 10 list of most read blog posts for the first half of 2017. Check out our list of blog posts below and see what topics your colleagues and industry counterparts are researching this year:
I recently attended the First Party Summit – a Collections summit in the USA - which was an exciting conference focusing on the unique challenges of Collections, Outsourcing, and Customer Care. Over the 3-day period I learned quite a lot from the presentations and round table discussions covering topics from innovative communication strategies to the role of human and artificial intelligence in collections. Throughout the conference, I noticed the following two points were consistent through all aspects of the discussions: Personalisation and the Customer Experience are on the rise in debt collection. In this blog post, I’ll explain why.
Scorecards form the back-bone of decision making for many financial institutions. They are used in the account management of key decision areas like collections and authorisations, for example. They can tell us whether to accept or decline a customer for a particular credit based product, or tell us the percentage of a customer’s outstanding balance that will be recovered over a certain period of time. In this blog post, we’ll be covering what scorecard monitoring is, its importance and the consequences of not carrying out the exercise regularly.