big data analytics

Big data and evolving financial analytics are leading factors affecting lenders today

To get a better understanding of the challenges lenders face, as well as how they prioritize financial analytics and use it to compete, TransUnion commissioned Versta Research to survey lenders on the topic of big data.

Test Your Knowledge

See if you can guess how lenders in our survey answered the following questions.

Question 1

How would you rate your organization’s analytics capabilities?

Very
Strong

Almost one quarter (23%) of respondents ranked their company’s analytics capabilities as very strong.

86% who said they are very or somewhat strong in analytics believe they are seeing tangible results.

Somewhat
Strong

44% of respondents ranked their company’s analytics capabilities as somewhat strong.

86% who said they are very or somewhat strong in analytics believe they are seeing tangible results.

Somewhat
Weak

30% of respondents ranked their company’s analytics capabilities as somewhat weak.

73% of lenders report that their analytics capabilities (or lack thereof) affect their ability to complete.

Very
Weak

Only 4% of respondents ranked their company’s analytics capabilities as very weak.

73% of lenders report that their analytics capabilities (or lack thereof) affect their ability to complete.

Question 2

How many lenders say that better analytics would make their organization more competitive in the marketplace?

18%

In fact, the number is 80%. Regardless of how they rate their current analytics capabilities, four out of five lenders believe there is room for improvement.

38%

In fact, the number is 80%. Regardless of how they rate their current analytics capabilities, four out of five lenders believe there is room for improvement.

80%

Yes. Regardless of how they rate their current analytics capabilities, four out of five lenders believe there is room for improvement

Question 3

How many lenders say data and analytics are evolving faster than their internal capabilities?

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