New Equifax Solution Expands Coverage for Key Household Demographics
Equifax Demographic Database Adds 7.5M Household Records
ATLANTA, May 7 /PRNewswire-FirstCall/ -- Equifax Inc. (NYSE: EFX) today announced the launch of a solution that gives marketers the most comprehensive demographic data available for U.S. households. TotalSource XL Advantage enables marketers to identify new customers, cross-sell products and services and improve the performance of their marketing applications. The new solution represents the latest enhancement to Equifax's TotalSource XL, a premium compiled database containing demographic, lifestyle and purchase history on more than 100 million U.S. households and 200 million individuals.
TotalSource XL Advantage expands the data coverage of 12 key demographic fields that gives marketers greater insight into customers and prospects, enhancing the efficiency of marketing efforts. The solution leverages Equifax's core demographic data such as age, home ownership, marital status and household composition and is uniquely designed to make inferences in cases where specific demographic data is unknown. The solution recently achieved strong results when beta tested by a leading provider of automotive information and marketing solutions, R.L. Polk & Co.
"Equifax matched an average of approximately 90 percent of records with household specific data and household inference data during a beta test," said Mike Osaer, Polk's vice president of product strategy. "Adding area-level inference data resulted in a total data fill-in rate close to 100 percent, which is highly competitive when compared to other demographic data suppliers."
With this new solution, data can be used for two different applications. TotalSource XL Advantage offers information at the household level for data installations and data enhancement processes. Another complementary feature, TotalSource Advantage PLUS, offers additional insight by providing inferred information for non-matched records in data enhancement applications. Instead of leveraging multiple fields to receive multiple levels of data, marketers can select fields relevant to their applications and append data to matched and non-matched records to gain a deeper view of customers for analysis purposes.
"With key demographics increasingly used in client modeling applications, many businesses need greater insight into their customers when specific data is unavailable," said Michael Hall, senior vice president and general manager, Equifax Marketing Services. "Leveraging our vast data assets and advanced analytics, TotalSource XL Advantage addresses this industry gap by providing superior data and comprehensive coverage for all key demographic fields."
Since the data fields reside on TotalSource XL, which has recently increased its file count by approximately 7.5 million records, marketers gain greater leverage when using this new solution. Another key feature is that household-level data compiled in TotalSource XL Advantage is updated every six weeks and can be segmented into 150 different groups.
TotalSource XL Advantage is part of the company's portfolio of marketing solutions that helps businesses maximize their marketing efforts and manage and grow their customer bases. For more information about Equifax Marketing Services, visit www.equifaxmarketingservices.com.
About Equifax Inc. (www.equifax.com)
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, employment and income verification and human resources business process outsourcing services, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. Businesses - large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, HR/payroll services, and much more. We empower individual consumers to manage their personal credit information, protect their identity and maximize their financial well-being.
Headquartered in Atlanta, Georgia, Equifax Inc. operates in the U.S. and 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500(R) Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.
SOURCE Equifax Inc.
Released May 7, 2009