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Mining for Diamonds
Business have access to all sorts of data to improve their enterprise. Besides internal business data, a company may draw data from social media or company review websites. But sometimes, a business can obtain an even larger perspective by adding government data into the analysis. Getting the full picture of situation can be likened unto mining for diamonds. When mining, the individual workers depend on equipment to detect poisonous gas or the prized gem they seek on the other side of the earth they mine. Selecting the right equipment can make a huge difference in the lives of the workers.
When selecting the right tool for business analytics, there is a wide range of choices. Therefore, a business must set parameters to find the right tool to save time, labor, and money. One business analytics tool you might want to consider is Stratifyd Signals. Stratifyd Signals helps business get the full picture by providing data connectors to Twitter, Facebook, You Tube, Yelp and many more. In addition to this, analysts can upload company and government data sets by uploading csv and EXCEL files. After the data has been converted into a format that is easy to understand, it is much easier to do voice of the consumer and competitor analysis.
For the purpose of this analysis, we will use an open government data set from the Consumer Financial Protection Bureau . In this data set, we find information from a wide range of financial institutions such as banks, credit card services, and lending companies. Recently, we wrote an article about Bank of America in the context of human resources. For other applications about this data set, please read “What Can Public Consumer Complaints Data Tell Us?”. By using a filtering tool, we can zoom in on a specific company, Citibank.
By using the issue widget, we can discover that the most commonly cited issues of Citibank include:
- incorrect information on credit report
- continued attempts to collect debt not owed
- loan servicing, payments, escrow account
The most common buzzwords were customer service, identity theft, and, collection agency.
Data based solutions
With Stratifyd Signals, we were able to quickly identify key insights. By knowing key words and issues, we are able to make data-based decisions. In order to improve the accuracy of credit reports, Citibank may want to consider changing its credit checking agency to Equifax, Experian or TransUnion because they raised the standard for credit report accuracy in 2015. In order to decrease the number of attempts to collect debts that are not owed, Citigroup can incorporate more verification checks though the process of lending. By increasing the times, a customer’s information is verified will also prevent identity theft.
Would you like to run data analytics on your data, or that found on websites? Visit us on http://www.stratifyd.com/ for more information. If you would like a self-service trial account, please chat with us or firstname.lastname@example.org. We’d love to work with you!
If you would like to check out the data dashboard for this analysis of Citibank, check out this link.