How our Products Work: an Overview of Income Predictor
As all businesses know, the customer acquisition phase can be challenging. Businesses require additional tools and reliable information with which to assess an individual’s affordability, in order to determine credit repayment commitments. Our Decision Analytics business unit, Scoresharp, has developed such a tool – a highly beneficial model based on statistically derived linear regression techniques. The resulting product is a cutting-edge technological tool called Income Predictor, which is available via a secure web service, online, via batch, or in real-time.
When calculating the prediction model that Income Predictor uses, Scoresharp’s linear regression techniques were applied to widespread samples of consumers with known outcomes. Income Predictor is able to predict the gross monthly income of an individual, across a wide range of income groups. This reduces time and risk for you, as it confirms with certainty that the information you access is a true reflection of a consumer’s income.
Various factors are taken into account when calculating the prediction model for Income Predictor:
The resulting outputs will therefore include a comprehensive set of data, to enable you to make customer acquisition decisions with confidence.
The data outputs include the individual’s predicted income (in Rand value); the predicted income band; a confidence measure to indicate the level of confidence assigned to the prediction, which is dependent on the depth of the data; the individual’s monthly bureau commitments; and any surplus or deficit amounts.
Income Predictor Key Features:
Income Predictor Key Benefits:
Dirk Lombard is the product owner for Income Predictor. Dirk started his career as a mainframe programmer, where he discovered his fascination and love for data and analytics. After 5 years in programming, Dirk joined SAS for 12 years, where he gained valuable insights into the power of analytics deployed on good data.
In 2009, he joined Compuscan with the belief that the company would make a mark on the industry by bringing superior analytical expertise closer to data. Dirk bridges the divide between IT and business with an expert understanding of technology and software development combined with practical business application.
For more information on Income Predictor, contact Dirk at firstname.lastname@example.org.