DataSoft believes that social media is no longer just a fed, now it’s the biggest shift since the industrial revolution. Social media has taken over as the activity on the web.77% of consumers interact to the product and financial service providers through social media. Considering data items from social media like-
- Marital Status
- Location of connected friends
- Friends’ working status
- Friends’ age group
Scorecard/credit rating is derived using big data analytics for an applicant. All variables are preprocessed carefully before the modeling phase. Stepwise regression is used to reduce the number of variables.