Last month Professional Credit’s data science team released a study that illustrated the value of individual consumer data points. The study showed how obtaining additional consumer demographic data, such as a date-of-birth, address, or email, translates directly to dollar amounts when it comes to account recovery. Today, we are happy to release a new interactive online tool based on that same research.
Professional’s Opportunity Cost Calculator
The Opportunity Cost Calculator applies the marginal effect analysis from the study to your existing collections metrics to accurately estimate the amount of revenue that could be gained by the addition of specific data sets. The tool allows the user to experiment with different outcomes based on known account types, balances, and available demographic data – and choose to receive a sharable report of the results via email.
Try the calculator tool here.
Download the study that the calculator is based on:
The Link Between Collecting Complete Consumer Data and Significant Increases in Recovery
View a one-page summary of the study here.