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Equifax 'Ignite' Launch Continues Move into Analytics

March 13 2017

Consumer data company Equifax has launched Ignite, a data analytics platform, incorporating DIY analysis and data visualization tools and speeding what it calls its 'transformation from a credit bureau into an insights company'.

The tool, available immediately in the UK, US and Canada, integrates structured and unstructured information including trended payment data and enhanced risk scores, and helps users develop 'precise, targeted insights about consumer behaviours', the firm says.

There are three data access options. Equifax Ignite Marketplace provides downloadable apps that can be leveraged for visualizing and digesting applicable data, benchmarks, and trends across multiple industries; while Equifax Ignite Direct is a high-speed solution allowing users to conduct their own analytics using direct access to our data warehouse, our attributes, and analytical tools. The third, Equifax Ignite Models and Scores, is custom-built for each client and provides configurable scores, facilitating customer acquisition, segmentation and improvement of customer relationships.

Vice-President Data & Analytics Bill Johnston says the new tool 'enables a true data democracy - where we're bringing multi-sourced data in one place and then providing access to it at all levels of our clients' organizations, when and where it is needed'. According to CMO Chris Briggs, the product greatly enhances the company's ability to develop 'configurable scores and solutions' in weeks or even days, rather than months.

Equifaz analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and employs around 9,400 worldwide via operations or investments in 24 countries.

Prasanna Dhore, the company's Chief Data and Analytics Officer, comments: 'Back around eleven years ago, around 80% of our revenue was credit reports. Now it's roughly less than 30%. We're transforming into an insights company'. (quoted on www.mediapost.com ).

Web site: www.equifax.com .

All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.

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