Equifax Makes Differentiated Data Products Available on Google Cloud Analytics Hub and Marketplace

Rhea-AI Summary

Equifax (NYSE: EFX) has expanded its partnership with Google Cloud to deliver anonymized data assets on the Google Cloud Analytics Hub. This collaboration aims to provide developers with real-time access to Equifax insights, accelerating product innovation. The partnership enables secure access, sharing, and querying of data within Google Cloud's infrastructure for informed decision-making.

Initially available datasets include:

• U.S. Consumer Credit Trends: Anonymized, time-series credit data across various loan types
• Equifax Analytic Dataset: Unbiased sample of loan-level credit data
• B2bConnect Commercial Marketing Data: Verified firmographic information on millions of businesses

This expansion is facilitated by the Equifax Cloud, driving the company towards becoming a cloud-native global data and analytics leader.

Positive

• Expanded partnership with Google Cloud enhances data accessibility and analysis capabilities
• Real-time access to Equifax insights may accelerate product innovation
• Availability of differentiated datasets on Google Cloud Marketplace increases market reach
• Integration with Google Cloud's AI and ML tools can drive more sophisticated data analysis

Negative

• None.

Insights

Financial Analyst

Equifax's expanded partnership with Google Cloud represents a strategic move to enhance data accessibility and drive innovation. By making anonymized data available on Google Cloud Analytics Hub and Marketplace, Equifax is positioning itself to capture a larger share of the growing cloud-based data analytics market.

This collaboration offers several potential benefits:

• Increased revenue streams from data product sales
• Enhanced customer retention through improved accessibility
• Accelerated product development cycles
• Potential for new customer acquisition in the tech sector

However, investors should consider potential risks, such as data privacy concerns and increased competition in the cloud data space. The impact on Equifax's financials may not be immediate, but this move aligns with the company's long-term strategy of leveraging its Equifax Cloud infrastructure for growth.

While this partnership is promising, its full financial impact remains to be seen. Investors should monitor future earnings reports for indicators of increased data product revenue and customer growth related to this initiative.

Tech Expert

Equifax's integration with Google Cloud's Analytics Hub and Marketplace is a significant technological advancement. This move leverages the power of cloud computing and big data analytics to provide real-time access to valuable datasets.

Key technical aspects include:

• Utilization of Google's BigQuery for efficient data processing
• Integration with Vertex AI for advanced machine learning capabilities
• Compatibility with Looker for enhanced business intelligence

The Equifax Cloud infrastructure plays a important role in enabling this partnership, showcasing the company's progress in becoming a cloud-native data and analytics provider. This transition to cloud-based services can lead to improved scalability, reduced operational costs and faster innovation cycles.

However, the success of this initiative will depend on the seamless integration of Equifax's data with Google's cloud ecosystem and the ability to maintain data security and privacy in a shared environment. The tech community will be watching closely to see how this partnership evolves and whether it sets new standards for data sharing and analytics in the cloud.

Company's Expanded Partnership with Google Cloud Provides Real-time Access to Anonymized Data Insights for Faster Innovation

ATLANTA, Oct. 9, 2024 /PRNewswire/ -- Equifax^® (NYSE: EFX) has expanded its partnership with Google Cloud to securely deliver anonymized, differentiated data assets on the Google Cloud Analytics Hub, a data exchange backed by the power of BigQuery, Google Cloud's unified data platform, designed to enable efficient and secure data sharing across organizations. Equifax is committed to meeting its customers where they operate, and availability of Equifax data via Analytics Hub will provide developers with real-time access to Equifax insights to help increase the speed of product innovation. The partnership will also enable business users and data analysts to securely access, share and query data within Google Cloud's infrastructure to inform decision making across the organization.

"At Equifax, we believe that more data drives smarter decisions," said Todd Horvath, President of U.S. Information Solutions at Equifax. "By making our differentiated data available on Google Cloud's Analytics Hub we are not only helping our customers make predictive and informed decisions, but we are increasing the speed and agility of those decisions by meeting them on their channel of choice."

Customers are able to search and discover anonymized Equifax datasets on Google Cloud Marketplace, with secure data sharing access through the Google Cloud Analytics Hub. The initial datasets will include:

U.S. Consumer Credit Trends, which provides a unique perspective into anonymized, time-series credit data. These datasets cover the U.S. consumer credit population and are specifically attributed for trending, market analysis, benchmarking and research purposes across loan types such as auto loans and leases, bank cards, first mortgage originations, and student or personal loans.

Equifax Analytic Dataset™, which is an unbiased, anonymized statistical sample of loan-level credit data and a representation of the U.S. credit active population. These insights enable users to better model delinquency, default, loss severity and prepayment.

B2bConnect™ Commercial Marketing Data, which includes verified firmographic information on more than 61 million U.S. businesses and 185 million global businesses, such as vertical industry coding, revenues, number of employees, corporate hierarchy, and many other valuable attributes for better targeting of sales and marketing activities.

Google Cloud Analytics Hub offers customers a simplified and modern way to share data between organizations and enables users to drive insights at scale by taking advantage of built-in machine learning, artificial intelligence tools including the Vertex AI platform, and business intelligence tools such as BigQuery ML and Looker.

"Google Cloud and Equifax have a longstanding commitment to improving business decision making with data," said Stephen Orban, VP of Migrations, ISVs, and Marketplace at Google Cloud. "Our expanded partnership will bring powerful new datasets to Analytics Hub, such as credit trends that financial institutions can easily apply in BigQuery to better evaluate market and credit performance to enable smarter decisions."

Equifax participation in Google Cloud's Analytics Hub is enabled by the Equifax Cloud™, a technology and security infrastructure that is propelling the company toward becoming the industry's first cloud-native global data and analytics company of its size. At the core of how Equifax operates, the Equifax Cloud delivers real-time insights through multi-data assets at scale – leveraging built-in security, improved performance and always-on stability for faster and more efficient speed to market.

For more information about Equifax differentiated data on Google Cloud, click here.

ABOUT EQUIFAX
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.

FOR MORE INFORMATION

Tiffany Smith for Equifax
mediainquiries@equifax.com

 

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SOURCE Equifax, Inc.

FAQ

What datasets is Equifax (EFX) making available on Google Cloud Analytics Hub?

Equifax is initially making three datasets available: U.S. Consumer Credit Trends, Equifax Analytic Dataset, and B2bConnect Commercial Marketing Data. These provide insights into consumer credit trends, loan-level credit data, and business firmographic information.

How does the Equifax (EFX) and Google Cloud partnership benefit developers?

The partnership provides developers with real-time access to Equifax insights through Google Cloud Analytics Hub, potentially increasing the speed of product innovation and enabling more efficient data-driven decision making.

What is the Equifax Cloud and how does it relate to the Google Cloud partnership?

The Equifax Cloud is the company's technology and security infrastructure that enables its participation in Google Cloud's Analytics Hub. It's driving Equifax towards becoming a cloud-native global data and analytics company, delivering real-time insights through multi-data assets at scale.

How many businesses does Equifax's (EFX) B2bConnect Commercial Marketing Data cover?

Equifax's B2bConnect Commercial Marketing Data includes verified firmographic information on more than 61 million U.S. businesses and 185 million global businesses.