Revolutionizing debt collection with expertise in consumer behavior

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Abhishek Goel: Revolutionizing Debt Collection With Expertise in Consumer Behavior

With the rapid growth of consumer credit and the huge amount of financial data, it is crucial to develop effective prediction models. Dasceq aims to change debt collection by understanding customer behavior based on proprietary alternative data. Dasceq’s proven PCC framework has processed over 140 million accounts and US $ 42 billion and improved money raised by over 12%, reduced collection costs by over 30%, and dramatically improved the customer experience. The company’s mission is to transform collection practices as FICO has transformed credit underwriting through AI / ML and big data. Dasceq has developed AI / ML solutions throughout the loan cycle, created predictive analytics to identify high-risk patients, and founded several leading analytics companies.

A passionate leader in data science

Abhishek is the CEO and Founder and Consumer Behavior Expert for Dasceq.com. He has led the development of analytical solutions for employers and clients who have saved or improved their profits by more than US $ 3 billion. He has experience providing advisory and strategy services to senior executives of global financial institutions. Abhishek is passionate about giving back by teaching how to learn and apply data science. He is an assistant professor and advisor, teaching data science concepts and applications to various professional, corporate and graduate programs such as Springboard.com, SMU (http://www.smu.edu/cape) and UTD (http://jindal.utdallas.edu/marketing/ms-marketing/). Springboard is an online learning platform that prepares students for the most in-demand careers in the tech industry with comprehensive, mentor-led online programs in Software Engineering, Data Science, Machine Learning, UI / Design. UX, cybersecurity, etc.

Abhishek also owns a training company called A-Data Leader which helps experienced data managers advance their careers. He is a regular speaker at local and national data science conferences, collection industry conferences.

road to success

Abhishek has been successful in initiating analytics practices and growing revenue for multiple business units within the Big 4, global financial services, and fintech companies. Abhishek’s expertise includes data analytics, analytics strategy, machine learning, deep learning, artificial intelligence, predictive modeling, robotics, compliance analytics, credit scoring, marketing analysis, collection analysis, voice monetization, political campaign analysis, risk and transaction analysis, consumer life cycle analytics, marketing analysis, data mining, data visualization, model validation, predictive / statistical modeling, model development, data mining and segmentation, consumer and transaction behavior analysis, spend analysis using multiple analytical tools such as SAS, Python, Hadoop / Hive, Neo4j, SAS E Miner, SAS E Guide, SQL, Tableau and Qlikview.

As an entrepreneur, starting a next-generation business in a new, low-profile market takes time and requires a lot of education. Abhishek has spent a considerable amount of time explaining the product and networking with people to make them aware of the changing market.

Stimulate innovation in the market

Dasceq is constantly seeking advice on the needs of its customers. It supports indebted consumers and encourages them to understand their expectations. The company digs deeper into its data to identify areas for improvement and improve the customer experience. Dasceq is developing an innovation strategy in convergence with the sales, marketing, sustainable development and HR teams. The company’s multi-year plans with clearly defined goals and progress barometers ensure that innovation is tracked and appreciated in a granular fashion. Abhishek believes that the tech industry benefits comparatively more from innovation, product launches, and M&A activity than, say, the pharmaceutical industry. There are several reasons for this. On the one hand, there are much less barriers to entry. While skilled workers are a constant in both industries, working in digital technology does not require the same level of academic achievement as in the pharmaceutical industry. “With low start-up costs and the potential for huge and timely earnings, it’s no surprise that venture capital’s interest in the tech industry is growing. Access to this capital, in turn, allows technology companies to develop as private enterprises much longer than those in any other sector, ”he adds. Arguably this has allowed for many industry transgressions. But it has also created an atmosphere where rapid and constant innovation is celebrated – and made possible through the agility and responsiveness of private companies.

Leverage disruptive technologies to serve customers

Disruptive technology is an innovation that dramatically changes the way consumers, industries or businesses operate. Disruptive technology sweeps away the systems or habits it replaces because it possesses clearly superior attributes. Even a start-up with limited resources can aim for a technological breakthrough by inventing a whole new way of doing something. Established businesses tend to focus on what they do best and seek incremental improvements rather than breakthrough changes. They cater to their most important and demanding customers.

Dasceq goes beyond technology or new tools. Its products include the best way to implement solutions so that customers can get the best value. The company leverages industry best practices as well as new technologies and in-depth studies focused on consumer behavior to achieve the best return on investment. Dasceq actively uses 36 technologies for its website, according to BuiltWith. These include Google Apps for Business, Microsoft Exchange Online, and Facebook Sharer. This year, Dasceq is expected to spend US $ 57.2,000 on IT, according to Aberdeen.

Future prospects

Abhishek says the industry is changing rapidly with regulatory pressure and consumer behavior. COVID-19 has accelerated digital adoption by businesses. Dasceq continues to understand and offers an additional product to help customers improve the customer experience.

A leader leads strategic marketing with the right team

Abhishek still believes that a technology leader should always have patience. It takes longer to build a profitable and sustainable business and reputation in the industry. A leader should focus on marketing and innovation. Moreover, having the right team is so important that the leader should hire professionals and experts and not those who agree with him and let even good friends go if they are not aligned. Being able to be resourceful is the key to success.

Advice to emerging leaders

The biggest piece of advice Abhishek offers to emerging leaders is to understand prospects’ challenges and work hard to resolve them. There are currently many opportunities and one can have a profound impact by leveraging technology. As a technology leader, tracking the trends and skills that the leader will need throughout the year will allow them to know how they can apply those skills to future opportunities. When working in a remote environment, practicing emotional intelligence as a technology leader is fundamental. Being in a virtual environment, talking with the team through screens rather than face to face in these “water chilling” moments in the office can make it more difficult to assess how team members are feeling. team. The practice of emotional intelligence will allow the leader to manage both his own and the emotions of his technical team, allowing him to maintain high motivation, improve communication and empathize with the team. Building resilience within the technical team will help members deal with this level of uncertainty and foster a culture of adaptability that can be extremely beneficial in times of unpredictability.

In addition, the collection industry is experiencing a paradigm shift. Most collectors don’t understand how to influence consumers. Over the next few years, Dasceq predicts a major aggregation and shift within a shift as lenders and collectors will be forced to embrace new technology and always be up to date with the consumer experience.


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