TransUnion Launches Prama, a Transformational New Analytics Environment
CHICAGO, IL: TransUnion announced the launch of Prama, an innovative suite of solutions modifying the ways in which companies explore data and act on insights. Prama uses sophisticated and updated technologies to harness monolithic underlying data assets and employs advanced analytics to provide customers the power to make better decisions, and operationalize those decisions in an improved manner.
"Prama gives our customers the ability to see for themselves how their decisions compare to the marketplace, and how changes to strategy might ultimately impact revenue," said Jim Peck, president and chief executive officer of TransUnion.
The Prama portfolio will start with two flagship solutions in 2016—Prama Insights and Prama Studio.
Prama Insights comprises of anonymized info on nearly all the credit active consumers in the U.S. The data set leverages the power of Credit Vision and a seven-year historical view of data, providing lenders active insights that can render into unclouded consumer benefits at every instance. "Lenders need information to identify, connect with, and serve borrowers well -- all critical components of profitable consumer credit portfolios," said Christine Pratt, senior credit industry analyst at Aite Group. "Solutions that deliver both industry and peer benchmarks in real time and cost-effectively are very much needed and will be well received."
The first two modules of Prama Insights are Vintage Analysis and Market Insights.
The Vintage Analysis module leverages TransUnion's detailed anonymized tradeline history of more than 200 million consumers, letting users access seven years of performance data on a cohort basis so they can monitor underwriting policy, forecast losses, calculate loan profitability, and define marketing strategy.
The Market Insights module provides trimonthly views of key lending metrics at a state, regional and national level– allowing users to access applicable benchmark trends within moments.
The module consists nine quarters of anonymized data and a detailed understanding of delinquency rate changes by credit tier, geography, product, and line of business. Customers using this data can more effectively measure their own performance versus their competition in the industry.
"Prama Insights allows lenders to gain real and timely market intelligence that can be used for a wide variety of purposes, such as adapting risk and product strategies," said said Steve Chaouki, executive vice president of TransUnion's financial services business unit. "Studio, the second phase of Prama, will allow users to upload their own data, conduct detailed analyses and test strategy changes across a number of dimensions.”
The first Prama Studio modules will be offered to TransUnion customers in mid-2016.
By James Seevers, CIO & GM, Toyoda Gosei
By Bill Krivoshik, SVP & CIO, Time Warner Inc.
By Gregory Morrison, SVP & CIO, Cox Enterprises
By Alberto Ruocco, CIO, American Electric Power
By Bruce. D. Smith, SVP & CIO, Information Systems, Advocate...
By Adrian Mebane, VP-Global Ethics & Compliance, The Hershey...
By Graham Welch, Director-Cisco Security, Cisco
By Michael Watkins, Senior Product Director, Global Knowledge
By Bernd Schlotter, President of Services, Unify
By Patrick Hale, CIO, VITAS Healthcare
By Steve Bein, VP-GIS, Michael Baker International
By Jason Alan Snyder, CTO, Momentum Worldwide
By Mike Morris, CIO, Legends
By Louis Carr, Jr., CIO, Clark County
By Bill Dow, SVP and General Manager of Business Solutions,...
By Jim Whitehurst, CEO, Red Hat
By Darren Cockrel, CIO, Coyote Logistics, a UPS Company...
By Nathan Johnson, SVP and CIO, Werner Enterprises [NASDAQ:...
By David Tamayo, CIO, DCS Corporation
By Neil Hampshire, CIO, ModusLink Global Solutions, Inc....