Simply put, the credit lifecycle comprises three major phases: origination, management, and collections. Most enterprises already use data analytics to generate alerts and run queries and various ad hoc and standardized reports. Many organizations also use AI and machine learning to predict the probability of client outcomes, including credit default. Some companies deploy systems that go further and prescribe actions at every stage of the credit lifecycle. The Altair RapidMiner platform enables enterprises to build and deploy prescriptive analytics applications quickly. This video demonstrates two methods we can use together to improve collections.
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