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Developing and Executing a Global Data Strategy March 16, 2010

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

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Developing and Executing a Global Data Strategy March 16, 2010

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  1. Developing and Executing a Global Data StrategyMarch 16, 2010

  2. Agenda • Equifax Overview • Defining Data Strategy • Executing Data Strategy • Closing Comments • Questions and Answers

  3. Equifax Overview

  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. Workforce Solutions Consumer Information Solutions Commercial Information Solutions International Personal Information Solutions Equifax Corporate Organization DELIVER UNIQUE SOLUTIONS… Information Analytics & Insight Enabling Technology …TO MEET CUSTOMER NEEDS Marketing Risk Management Collections Employment Verification

  6. Greater share-of-wallet and penetration Increase Technology Services & Analytical Services penetration Target emerging opportunities Invest in data sources that differentiate A Resilient Growth Strategy • Customer intimacy • New Product Innovation • Value-based pricing • Actionable account planning • 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 Data Assets External Data Telephone & Utility Data Wealth/Asset Data Identification& LinkingData Micro Finance Fraud & Authentication Data Core Credit Data Income & Employment Data Credit Inquiries Securities Compliance Data Commercial Data Telephone Numbers Demographic/Firmographics Corporate Linkage

  8. Why Data Strategy? • Grow revenues and profits • Establish competitive advantages • Create global consistency

  9. 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.

  10. 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

  11. Our Template Provides the Data Strategy Framework

  12. Data Strategy Example

  13. A core data strategy emerged around a 360º financial view of an individual Credit • Income and employment data • Macroeconomic data • Capacity score Capacity • Consumer and commercial credit • Telco/Utilitypayment data Collateral Consumer Income Consumer Liabilities • Assets and wealth • Property data Consumer Assets

  14. Leveraging Data Assets is a Key Data Strategy

  15. Challenges and Solutions

  16. Execution of Data Strategy

  17. Create a Global Data Center of Excellence

  18. Data Sandbox

  19. Data Integration Framework

  20. Example: Data Strategy Dashboard

  21. Education and Communication • Communications Plan • Data Inventories accessed through Intranet • Town Hall Meetings • Data Innovation Contests • Status Meetings • Internal Publications

  22. 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

  23. How We Measure Our Success

  24. Data Acquisition Best Practice

  25. Data ROI Best Practice

  26. Data Assessment of Each Business Unit

  27. 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

  28. Questions and Answers

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