Magazine article Business Credit

Using Deep Data to Scout Trends, Manage Credit Processes

Magazine article Business Credit

Using Deep Data to Scout Trends, Manage Credit Processes

Article excerpt

You can get a lot of information from information providers, like Bureau van Dijk and others. But you've got a lot of information available yourselves, don't you? We know it is there. There are a lot of hidden places for data. But do you use it?

I like to look a little more in detail--I don't really like to outsource everything. You've got things like accounts receivables systems, which have transaction data and can be a very good foundation for deep analytics. That's quite a rich source of information. Scouting for trends, looking in depth can actually be quite easy and, if you know how to use your own data, it can be very predictive. But what are the real nuggets, the real gold you can use? That's often in the trade experience, the payment experience--it's how your customer is paying you on an account basis.

If they're operating more than one account with you, you can consolidate. You can really get a clear picture of the customer and their actions to define a payment experience. Are you able to do that? You should be, you're credit managers.

Are you using dispute ratios? You can calculate those easily. …

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