Data Science Use Case: Captive Finance Company
Updated: Sep 17, 2021
What is Data Science?
Data Science focuses on the collection, modelling and interpreting of company data. This helps organizations reach better conclusions and make better decisions as a result of this data.
Data Science at a Captive Finance Company
Our data scientists were working as consultants at a company which is part of a truck-building group. While the truck-builder is responsible for the manufacturing and selling of the trucks, the financial department is responsible for the customers’ possible finance models (e.g. leasing contracts) for their newly bought trucks. The arrival of sensors and telematics in the trucks, on the one hand, and the customer management systems on the other, result in an exponentially growing mountain of data, the information from which can be gathered also becoming increasing relevant.
The data science team helps companies reach better conclusions and make better decisions as a result of 'smart data'.
In partnership with CANGURU, this mountain of data has be
en mined to gather new insights and is used to design new business models. Consider, for example:
The automatic quality classification of trucks at the end of their leasing agreement, so that the sales possibilities can be adapted as necessary
The mileage at the end of the leasing agreement, which is one of the most important factors to impact second-hand sales conditions in the market. The ability to forecast these, provides the financial teams with a clear competitive advantage
The ability to build up a full customer profile thanks to the combination of telematics, contract and customer data. For example, the way in which a customer handles his fleet is indicative of their financial position
The ability to forecast the probability that a customer will be behind with payments within 3-6 months. This reduces the risk of the total portfolio, decisions can be taken faster and communication between different stakeholders runs more smoothly.
The extraction and post-processing of data from complex credit reports in PDF format. Automated analysis of the credit data allows faster and more accurate credit decisions.
Increasing the auto-approval rate of an automated credit decision system. This results in man-hour savings, faster customer feedback and an improved user experience.
CANGURU is a young and innovative consulting company based in Mechelen. The data science team helps companies reach better conclusions and make better decisions as a result of “smart data”. We implement the right tools to gather and compile qualitative data. We subsequently bring this information into the light which should help the company take the correct decisions.
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