Using big data to create actionable business insight requires the right blend of specialist big data skills, and secure, powerful big data infrastructure. At Experian, we bring all the ingredients together in the form of DataLabs to help you increase your success.
In the financial services market, organisations who can collect, organise, process and extract insight from large datasets can proactively meet customers’ needs and achieve significant competitive advantages. However, creating the conditions for effective big data analytics is a challenging and highly specialist activity.
Understanding the mission-critical nature of data, and its growing role in strategic decision making, Experian is investing heavily in the skills and infrastructure our customers need to conduct high-dimensional big data analytics.
What is DataLabs?
DataLabs is Experian’s specialist team who turn massive, diverse datasets into business intelligence. Collectively, DataLabs is a group of expert scientists that focus on new, advanced big data analytics techniques based at three state-of-the-art labs in the UK, USA and Latin America.
The people doing the big data analytics science
With hard science training, usually in physics and computer science, DataLabs scientists develop new analytics techniques and write complex algorithms and code to support machine-driven data analysis. As well as having unrivaled technical skills, we are also highly entrepreneurial; constantly looking for new analytics techniques and data combinations that help you gain new competitive advantage.
The DataLabs infrastructure
To help you convert data into insight, DataLabs scientists use a multi-threaded, parallelised processing environment which can churn through vast quantities of artifacts and variables in very short periods of time. Critically, the infrastructure is completely private and housed in Experian’s secure data centers for world-class standards of protection for potentially sensitive data, such as personal information. Our commitment to providing end-to-end stewardship of our clients’ data is embodied by this safe, secure, and fully-protected platform.
To promote innovation, we use the latest open-source technologies. This helps us tap into the collective minds of technologists worldwide and exploit the latest machine-driven analytics techniques. While proprietary software companies only have access to limited development resources, the global open-source community is constantly contributing new ideas that help us resolve your complex computational problems.
DataLabs in action
To help one lender deliver effective, personalised marketing treatments, the DataLabs team conducted research into how end-customers pay for goods and services. By applying advanced machine learning algorithms to transactional and customer data, we were able to understand end-customers’ spend behaviours to create lifestyle clusters, predict attrition, and recommend merchants where customers might like to shop.
With transaction data updated on a regular basis, the lender can now see how the needs of its customers are changing over time. Where existing products and services no longer meet the needs, they can increase customer retention by proactively stimulating product usage or suggesting alternative products.
At DataLabs, we deliver big data analytics projects that help you improve your decision-making process and achieve new competitive advantage. Our creative, entrepreneurial approach means that we provide insight in multiple ways.
If you could use Experian’s DataLabs – what would you like us to work on for you? Tell us your thoughts below..