The latest addition to Equifax’s Ignite apps is our browser-based scorecard monitoring tool that is designed to transform complex scorecard monitoring into a range of accessible visualisations that show the performance of a scorecard over time.
As increasing numbers of organisations build and utilise bespoke scores to optimise decision making, there is an associated overhead to continuously monitor the scorecards to ensure they remain effective.
Equifax’s Scorecard Monitoring app aims to simplify how organisations track score performance and reduce the complexity of monitoring and managing multiple scorecards. The app is designed to support ongoing scorecard monitoring both within an analytical team and across other parts of an organisation. It presents information about a scorecard using metrics that will be familiar to analysts and includes a summary view that can be easily interpreted by those less familiar with scorecard monitoring processes.
Key features of the app include:
Create summary views which can be accessed and interpreted across all levels of an organisation and which show at-a-glance how a scorecard is performing
Track scorecard performance across different time periods
Monitor multiple scorecards with side-by-side comparisons available
Monitor score stability and performance including score distribution, bad rates, Gini, log odds, Population Stability Index (PSI) and distribution
View characteristic stability and performance displayed as a simple Red, Amber, Green summary alongside stability and misalignment rankings and deep dive into detailed attribute-level performance
Steven Upton, Head of Banking, FI & Ignite Apps (Client Analytics) at Equifax UK explains, “while portfolio and benchmarking reports are now commonly getting a modern overhaul of visualisations, scorecard monitoring is often getting left behind for someone to keep copy and pasting data around spreadsheets. This new app will help our clients streamline the act of creating and updating monitoring reports as well as make it much easier to understand what is happening to each scorecard. The last eighteen months has potentially changed how the data in some scorecards works, therefore it is a critical time to check the predictive ability of each model attribute. The Scorecard Monitoring app does that and more!”
To find out more about the Scorecard Monitoring app and its features you can schedule a short, free demo or call with one of our product experts.