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Equifax Confidential and Proprietary Developing and Executing a Global Data Strategy March 16, 2010.

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Presentation on theme: "Equifax Confidential and Proprietary Developing and Executing a Global Data Strategy March 16, 2010."— Presentation transcript:

1 Equifax Confidential and Proprietary Developing and Executing a Global Data Strategy March 16, 2010

2 Equifax Confidential and Proprietary Agenda Equifax Overview Defining Data Strategy Executing Data Strategy Closing Comments Questions and Answers 2

3 Equifax Confidential and Proprietary Equifax Overview

4 Equifax Confidential and Proprietary 4 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

5 Equifax Confidential and Proprietary 5 International Commercial Information Solutions Consumer Information Solutions Personal Information Solutions Workforce Solutions DELIVER UNIQUE SOLUTIONS… Equifax Corporate Organization Risk ManagementMarketingCollections …TO MEET CUSTOMER NEEDS Enabling Technology Information Analytics & Insight Employment Verification

6 Equifax Confidential and Proprietary 6 Increase Technology Services & Analytical Services penetration 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 Greater share-of-wallet and penetration Invest in data sources that differentiate 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

7 Equifax Confidential and Proprietary 7 Equifax Data Assets Wealth/Asset Data External Data Telephone & Utility Data Identification & Linking Data Fraud & Authentication Data Income & Employment Data Securities Compliance Data Telephone Numbers Core Credit Data Credit Inquiries Commercial Data Demographic/ Firmographics Corporate Linkage Micro Finance

8 Equifax Confidential and Proprietary Why Data Strategy? Grow revenues and profits Establish competitive advantages Create global consistency 8

9 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. 9

10 Equifax Confidential and Proprietary Data Strategy Themes Focus on customer problems and market needs Leverage our existing data Acquire new data to create differentiation/fill gaps Use analytics to assess data value Establish data management, quality, integration and governance standards Create a Data ROI model Leverage best practices globally 10

11 Equifax Confidential and Proprietary Our Template Provides the Data Strategy Framework 11

12 Equifax Confidential and Proprietary Data Strategy Example 12 Customer Need Data Need Integration Strategy Buy, Build or Purchase Customers Addressed Competitive Scenario Revenue Impact Priority Financial Services companies need to understand a consumers 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 3 rd -party data sources Financial Services Ahead of Competition High

13 Equifax Confidential and Proprietary 13 Consumer Liabilities Consumer Income Consumer Assets Consumer and commercial credit Telco/Utility payment 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

14 Equifax Confidential and Proprietary Leveraging Data Assets is a Key Data Strategy 14 Data AssetCurrent UsesExpanded Uses Property DataDirect MarketingConsumer Risk, ID/Fraud Small Business CreditCommercial Risk Consumer Risk for Small Business Owners Employment /Income Data Verifications, Collections Consumer Risk, Account Management, ID/Fraud

15 Equifax Confidential and Proprietary Challenges and Solutions CategoryChallengesSolution PEOPLE Data functions are fragmented with inconsistent roles, responsibilities, decision right and skill sets Dedicated Data Leaders in each business unit empowered to execute data initiatives TECHNOLOGY Data 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 PROCESS Data 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 SUPPORTPriorities are not aligned Establish priorities at Business Unit and Corporate levels and fully communicate FUNDING/RESOURCESFunding is internally competitive Show ROI to fund investments or drive down the cost of data to self-fund initiatives 15

16 Equifax Confidential and Proprietary Execution of Data Strategy 16

17 Equifax Confidential and Proprietary Create a Global Data Center of Excellence 17

18 Equifax Confidential and Proprietary Data Sandbox 18

19 Equifax Confidential and Proprietary Data Integration Framework 19

20 Equifax Confidential and Proprietary Example: Data Strategy Dashboard 20

21 Equifax Confidential and Proprietary Education and Communication Communications Plan Data Inventories accessed through Intranet Town Hall Meetings Data Innovation Contests Status Meetings Internal Publications 21

22 Equifax Confidential and Proprietary Knowledge Transfer Networking Communities leverage expertise globally Representation from Data, Product and Sales across all countries and business units Exchange of ideas, best practices and processes through weekly conference calls and shared intranet site Break down of silos across multiple languages Shamelessly steal ideas 22

23 Equifax Confidential and Proprietary How We Measure Our Success 23

24 Equifax Confidential and Proprietary Data Acquisition Best Practice

25 Equifax Confidential and Proprietary Data ROI Best Practice

26 Equifax Confidential and Proprietary Data Assessment of Each Business Unit 26

27 Equifax Confidential and Proprietary Final Thoughts The data strategy is an integral part of the growth strategy Themes must be defined to provide focus and address customer needs Challenges/solutions must be identified and implemented Data investments must be supported by ROI Execution requires: Executive support Owners of the initiatives Resources/Tools Best Practices Data Strategy is a on-going, company-wide process - not a single activity 27

28 Equifax Confidential and Proprietary Questions and Answers

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