TransUnion Introduces TruIQ Analytics Studio to Help Businesses Make Better Decisions with Nimble, On-Demand Data and Analytics Experience
Solution allows overburdened data and analytics teams to make quick and accurate decisions easily using AWS Machine Learning Services
One in five data and analytics decision-makers cite the inability to process big data and act on it at the speeds needed by operations, businesses and customers as a top challenge in executing their vision. To ease those concerns, TransUnion (NYSE: TRU) today unveiled TruIQ™ Analytics Studio, a powerful data science and analytics solution providing businesses with on-demand access to its rich datasets.
Within TruIQ Analytics Studio, data science and analytics teams can leverage code templates and TransUnion expertise. They can rapidly explore and mine data, as well as develop models then deploy in an environment of their choice. It also allows customers to build and train machine learning models with fully managed infrastructure, tools and workflows.
“The global credit market is shifting with rising interest rates, high inflation and other factors resulting in evolving consumer behaviors. To address these changes and remain competitive, organizations need to be able to make the right decisions about their customers as quickly as possible,” said Venkat Achanta, Chief Data & Analytics Officer, TransUnion. “To support this pace, businesses – including small, mid-sized and large lenders – need faster access to data, and more importantly, faster model development and deployment to generate insights from the collected information.”
The solution offers benefits to data and analytics teams that are especially relevant today, including:
· Speed to market – data scientists and other users can utilize a single integrated source to access all relevant proprietary TransUnion data and tools that streamline processes and accelerate model development.
· Better models – designed to enable higher quality models, leveraging code templates, TransUnion’s proprietary data and the expertise of hundreds of data scientists via the company’s superior analytics consulting services.
· Competitive costs – pricing is driven by specific usage and needs versus higher costs traditionally associated with big box/one-size-fits-all software.
· Less friction – open and flexible cloud-based environment allows for easy movement of data and models between systems, giving users ability to take the data back into their own systems.
TruIQ Analytics Studio leverages Amazon SageMaker Studio, which helps enable TransUnion internal users and external customers to take advantage of rapid data exploration capabilities and deploy machine learning models securely and at scale.
“TransUnion and AWS share a commitment to helping financial services organizations modernize and transform to meet and exceed customer expectations through access to technologies like machine learning and analytics,” said Scott Mullins, managing director, Worldwide Financial Services at AWS. “We look forward to continuing to support TransUnion as they accelerate time to insight, enable access to rapid data exploration capabilities and fast model development which enables more informed decision making for their customers.”
Read more about TruIQ Analytics Studio here.
About TransUnion (NYSE:TRU)
TransUnion is a global information and insights company with over 12,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good®—and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
 Forrester, Best Practice Report, “Maximize Curiosity Velocity To Improve Your Data Culture,” March 7, 2023.