Customer Predictive Analysis
Turn A List Of Your Best Customers Into A List Of Your Best Prospects!
Your company has a number of incredibly loyal, responsive customers – people who are so sold on your products that you’d love to put them on a duplicating machine and make clones. Our Customer Predictive Analysis is one of the Equifax custom modeling techniques that helps you accomplish the same goal.
The Customer Predictive Analysis compares your customer file to a selected Equifax database and finds new prospects that mirror your best new-to-file responders. It then ranks names in the Equifax database based on how closely our prospects resemble your best customers.
Our Analytic Consulting team employs state-of-the-art methodologies when they set out to develop your model. These methodologies include Logistic Regression and Z Score techniques. Our analysts will work with your marketing objectives to customize a prospect universe and model to meet your needs.
Key Steps Involved In The Development Of A Customer Predictive Analysis Model
Step 1
We begin by matching your new-to-file responders’ names and addresses to the selected Equifax database in order to find people who are common to both files. When matches are found, we temporarily append the customer information from our database to the corresponding customer records in your file.
Step 2
We select a random sample of non-customers from the Equifax database to compare with your new-to-file responders. Through analysis and with your input, we segment the selected Equifax database to customize a prospect universe for you. If the sample size is large enough, we randomly split your customer list into a model-building sample and a validation sample. Later in the process, we apply the model to both files to verify results.
Step 3
Using the resulting model, we assign weights to each of the most significant characteristics of your new-to-file responders. We score all individuals in our sample files and sort them into ranks from best to worst. Customers are compared to non-customers by rank in the Performance Summary.
Step 4
We report on the demographics, lifestyles and interests that make up your custom-built model and we use a broad list of database variables to profile high, medium and low ranking prospects.
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About Equifax
For more than 107 years, Equifax has been a market leader in providing value-added information solutions to businesses and consumers. With a constant focus on product development, technology, innovation and customer satisfaction, Equifax has grown its business to over $1.44 billion in annual revenue and 4,600 employees in 13 countries. Throughout its business, Equifax maintains an unwavering commitment to the highest standards of corporate ethics, data security and information privacy.
The worldwide leader in enabling and securing global commerce, Equifax is respected for bringing buyers and sellers together through:
- Collection & interpretation of consumer data
- Management of consumer credit information
- Marketing services
- Business information
- ID authentication
- e-Commerce
Using marketing business intelligence to acquire new prospects, improve customer response rates, and increase annual revenue, Equifax serves customers across a wide range of industries including financial services, retail, healthcare, telecommunications/utilities, brokerage, insurance, government and direct marketing.
