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Developing and Executing a Global Data Strategy March 16, 2010. Agenda. Equifax Overview Defining Data Strategy Executing Data Strategy Closing Comments Questions and Answers. Equifax Overview. Equifax Quick Facts. $1.8 billion global leader in information solutions Member of S&P 500 - PowerPoint PPT Presentation
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Equifax Confidential and Proprietary
Developing and Executing a Global Data Strategy
March 16, 2010
Equifax Confidential and Proprietary
Agenda
Equifax OverviewDefining Data Strategy Executing Data StrategyClosing CommentsQuestions and Answers
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Equifax Confidential and Proprietary
Equifax Overview
Equifax Confidential and Proprietary
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Equifax Quick Facts
$1.8 billion global leader in information solutions
Member of S&P 500
Spans 15 countries
NYSE symbol- EFX
Headquartered in Atlanta with 6,500 employees
Maintains one of the largest sources of data–310M consumers,100M businesses worldwide,190M employee files
Equifax Confidential and Proprietary
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International
Commercial
Information Solutions
Consumer Information Solutions
Personal Informatio
n Solutions
Workforce Solutions
DELIVER UNIQUE SOLUTIONS…
Equifax Corporate Organization
Risk ManagementMarketing Collections
…TO MEET CUSTOMER NEEDS
Enabling TechnologyInformation Analytics &
Insight
Employment Verification
Equifax Confidential and Proprietary
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Increase Technology Services & Analytical Services penetration
• Customer intimacy• New Product Innovation
• Value-based pricing• Actionable account
planning
A Resilient Growth Strategy
Target emerging opportunities
Greater share-of-wallet and penetration
Invest in data sources
that differentiate
• Enhanced decision systems and analytics
• Increase mix of transactions delivered
through Enabling Technologies
• Robust commercial data file
• Positive credit data globally
• Increase employment records in The Work
Number (TALX)• New non-credit data
• New vertical markets • Geographic market
expansion• New applications of
existing data
Equifax Confidential and Proprietary
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Equifax Data Assets
Wealth/AssetData
ExternalData
Telephone& Utility
Data Identification& Linking
Data
Fraud &Authentication
Data
Income & Employment
Data
SecuritiesCompliance
Data
TelephoneNumbers
CoreCreditData
Credit Inquiries
CommercialData
Demographic/FirmographicsCorporate
Linkage
MicroFinance
Equifax Confidential and Proprietary
Why Data Strategy?
Grow revenues and profitsEstablish competitive advantagesCreate global consistency
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Equifax Confidential and Proprietary
Data Strategy Defined
Our Data Strategy focuses on generating revenue growth by acquiring and leveraging data sources that differentiate us. The Data Strategy tells us what data is needed, why the data is needed and how that data will be acquired and integrated in solutions. Our Data Strategy is an integral part of the Equifax Growth Strategy.
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Equifax Confidential and Proprietary
Data Strategy Themes
Focus on customer problems and market needsLeverage our existing dataAcquire new data to create differentiation/fill gapsUse analytics to assess data valueEstablish data management, quality, integration and governance standardsCreate a Data ROI modelLeverage best practices globally
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Our Template Provides the Data Strategy Framework
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Customer Need Data Need Integration Strategy Buy, Build or Purchase Customers Addressed Competitive Scenario Revenue Impact Priority
Industry Behind Competition High High
Regional Ahead of Competition Low Low
What data is needed to solve the customer
problem?
What is the customer problem being
solved?
How will the data be integrated to make it useable for products
and analytics? Dependencies?
Buy the data company/M&A, Build the data ourselves or Purchase from a data
company
Parity w/Competition Mediium MediiumTop 20
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Data Strategy Example
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Customer Need Data Need Integration
StrategyBuy, Build or
PurchaseCustomers Addressed
Competitive Scenario
Revenue Impact Priority
•Financial Services
companies need to
understand a consumer’s
“ability to pay” for better risk
decisions
•Consumer Credit data
•Income/ Employment
data
•Asset/Wealth data
•Property data
•Commercial Credit data
•Telco/Utilities data
•Macroeconomic data
Create a data integration platform to
house and link key data
sources for a full view of a
consumer
•Leverage existing data
•Build Telco/Utility Exchanges
•Acquired TALX and IXI
•License 3rd-party data sources
Financial Services
Ahead of Competition High High
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Consumer Liabilities Consumer Income
Consumer Assets
Consumer and commercial credit
Telco/Utilitypayment data
Income and employment data
Macroeconomic data Capacity score
Assets and wealth Property data
Credit Capacity
Collateral
A core data strategy emerged around a 360º financial view of an individual
Equifax Confidential and Proprietary
Leveraging Data Assets is a Key Data Strategy
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Data Asset Current Uses Expanded Uses
Property Data Direct Marketing Consumer Risk, ID/Fraud
Small Business Credit Commercial Risk Consumer Risk for Small Business Owners
Employment /Income Data Verifications, Collections Consumer Risk, Account
Management, ID/Fraud
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Challenges and Solutions
Category Challenges Solution
PEOPLEData functions are fragmented with inconsistent roles, responsibilities, decision right and skill sets
Dedicated Data Leaders in each business unit empowered to execute data initiatives
TECHNOLOGYData exists in application silos and legacy systems and is not optimized for use across applications
Systems and processes to store, integrate and leverage data across multiple applications
PROCESSData is not governed as an asset resulting in sub-optimal data usage, data inconsistencies and operational inefficiencies
Corporate Data Governance Council with clear decision rights to develop data use policies and standards
DATA VALUE Value of data is unclear and hard to measure
Tools to understand data value and ROI resulting in better and faster data decisions
DATA QUALITY/ METRICS Inconsistent tool, practices and metrics Implement better tools, standard data
quality metrics and best practices
COMPANY SUPPORT Priorities are not aligned Establish priorities at Business Unit and Corporate levels and fully communicate
FUNDING/RESOURCES Funding is internally competitive Show ROI to fund investments or drive down the cost of data to self-fund initiatives
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Execution of Data Strategy
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Equifax Confidential and Proprietary
Create a Global Data Center of Excellence
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Data Sandbox
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Data Integration Framework
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Example: Data Strategy Dashboard
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Wealth/Asset data Credit Risk Jackson 12/31/2010 Yes
Property data Credit Risk Jones 11/30/2010 No
Employment/ Income data
Credit Risk, Credit Marketing Edwards 9/30/2010 Yes
Commercial Credit Data Credit Risk Carter 3/31/2010 Yes
Not StartedCautionLegend: On Track Completed
Financial Services companies need to understand a
consumer's "ability to pay" for better risk decisions
At Risk
OwnerDid we hit milestones
this month?*Data Need Targeted
End DateLine(s) of BusinessCustomer Need
Projects/Initiatives
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Education and CommunicationCommunications PlanData Inventories accessed through IntranetTown Hall MeetingsData Innovation ContestsStatus MeetingsInternal Publications
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Knowledge Transfer Networking Communities leverage expertise globally
Representation from Data, Product and Sales across all countries and business unitsExchange of ideas, best practices and processes through weekly conference calls and shared intranet siteBreak down of silos across multiple languages“Shamelessly steal” ideas
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How We Measure Our Success
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Data Acquisition Best Practice
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Data ROI Best Practice
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Data Assessment of Each Business Unit
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Final ThoughtsThe data strategy is an integral part of the growth strategyThemes must be defined to provide focus and address customer needsChallenges/solutions must be identified and implemented Data investments must be supported by ROIExecution requires: Executive support Owners of the initiatives Resources/Tools Best Practices
Data Strategy is a on-going, company-wide process - not a single activity
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Equifax Confidential and Proprietary
Questions and Answers
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