Creditreform Boosts Credit Rating Quality with Big Data Visual Analytics
Founded as a credit agency in Mainz, Germany, in 1879, Creditreform has grown to now serve more than 163,000 members from 177 offices across Europe and China as one of the leading international providers of business information and receivables management services. Creditreform provides a comprehensive spectrum of integrated credit risk management solutions and services worldwide, provides members with more than 16 million commercial reports a year, and helps them recover billions in outstanding debts.
Challenge
Via its online database, Creditreform makes more than 24 million credit reports from 26 countries in Europe and from China that are available around the clock. Using high-performance solutions Creditreform wants to quickly detect anomalies and relationships within those high data volumes and present results in easy-to-read graphics. Already Germany’s top provider of quality business information and debt
Application Case 6.6 (Continued) collection services, Creditreform wants to maintain its leadership and widen its market lead through better and faster analytics.
Solution and the Results
Creditreform decided to use SAS Visual Analytics to simplify the analytics process, so that every Creditreform employee can use the software to make smart decisions without needing extensive training. The new high-performance solution, obtained from one of the business analytics leaders in the market place (SAS Institute), makes Creditreform better at providing the highest quality financial information and credit ratings to its client businesses.
“SAS Visual Analytics makes it faster and easier for our analysts to detect correlations in our business data,” said Bernd Bütow, managing director at Creditreform. “That, in turn, improves the quality and forecasting accuracy of our credit ratings.”
“Creditreform saw SAS Visual Analytics as a compelling solution,” remarked Mona Beck, financial services sales director at SAS Germany. “SAS Visual Analytics advances business analytics by combining Big Data analysis with excellent usability, making it a breeze to represent data graphically. As a company known for providing top-quality information on businesses, Creditreform is a perfect match for the very latest in business analytics technology.”
SAS Visual Analytics is a high-performance, inmemory solution for exploring massive amounts of data very quickly. Users can explore all data, execute analytic correlations on billions of rows of data in just minutes or seconds, and visually present results. With SAS Visual Analytics, executives can make quicker, better decisions with instant access, via PC or tablet, to insights based on the latest data. By integrating corporate and consumer data, bank executives gain realtime insights for risk management, customer development, product marketing, and financial management.
1. How did Creditreform boost credit rating quality with Big Data and visual analytics?
2. What were the challenges, proposed solution, and initial results?