Credit Data and Scoring
The First Triumph of Big Data and Big Algorithms

Provides new insights into the ways that data and scores interact to produce diverse results in countries around the world

Eric Rosenblatt (Author)

9780128188156, Elsevier Science

Paperback, published 7 January 2020

274 pages
22.9 x 15.1 x 1.8 cm, 0.52 kg

"Explores credit scoring and personal data collection by credit reporting agencies (CRAs), highlighting the arbitrariness, unfairness, and inaccuracy of the practice. Chronicles how data-based credit scores replaced subjective and reputational qualities as the basis of credit decisions. Provides an overview of the credit industry in the United States and its regulators." --Journal of Economic Literature

Credit Data and Scoring: The First Triumph of Big Data and Big Algorithms illuminates the often-hidden practice of predicting an individual’s economic responsibility. Written by a leading practitioner, it examines the international implications of US leadership in credit scoring and what other countries have learned from it in building their own systems. Through its comprehensive contemporary perspective, the book also explores how algorithms and big data are driving the future of credit scoring. By revealing a new big picture and data comparisons, it delivers useful insights into legal, regulatory and data manipulation.

1. When Our Reputation Became our Score2. The Credit Industry3. CRAs - Losing Battles to Win the War4. My Credit Report5. Historic Complaints about Credit Accuracy6. Differences in Credit Data Between Bureaus7. Differences in Credit Scores between Bureaus8. The Mystery of Credit Scores9. Making a Credit Score10. Picking the y Variable, Picking the x Variables11. Calculating Weight of Evidence and Information Value12. Regressions13. Getting a Good Model14. Data Flows: The Road to Attributes and Scores15. The War Between Individuals and Algorithms16. Protecting Data17. About the Authors

Subject Areas: Management decision making [KJMD], Business strategy [KJC], Finance [KFF], Economic growth [KCG], Economics [KC]