Overview
Often, the best predictor of future behavior is past behavior. It was on this premise that Equifax Dimensions was developed. As a complement to basic tools such as consumer reports, which provide a “snapshot” of credit activity at one specific point in time, Equifax Dimensions helps reveal consumer credit trends that measure the general direction in which the data is developing, such as increasing or decreasing spend levels.
Key Features
Trended, historical, longitudinal or timeseries information captures the trends within a data set for a specific period of time. A sequence of data points is typically measured at successive points in time spaced at uniform time intervals. Time-series data can be analyzed to extract meaningful statistics and help predict future values based on previously observed values. When measuring trended data within a consumer credit profile, analysis on direction, velocity, tipping points and magnitude of changes within the profile can deliver valuable information on credit behavior such as spending and payment patterns.
Key Benefits
To maximize business performance, marketing strategies and return on investment, and improve customer response and loyalty, businesses are redesigning their strategies to identify, target, acquire and keep profitable customers. Equifax Dimensions can help by offering deeper, trended insight that shows past consumer credit behaviors over 24 months to provide businesses with more precise predictive power.