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Thursday, May 17, 2012

Big Brother knows a lot about you (or ... your credit bureau does)

Taken from:
http://www.cio.com/article/706457/Equifax_Eyes_Are_Watching_You_Big_Data_Means_Big_Brother

The article states:
Says Equifax CIO Dave Webb: "We know more about you than you would care for us to know."
This pile of more than 800 billion records is sliced, diced, analyzed and indexed into 26 petabytes of data. That's more data than the FBI's Investigative Data Warehouse, said to be the single biggest repository at the agency, with its relatively measly 1 billion unique documents. In all, Equifax has data on 500 million consumers and 81 million businesses worldwide. 
Credit bureaus do have a lot of data - and that data can be worth a lot of money to their customers.  They sell the data to customers who want to know how risky is granting an individual a loan.

Talk about data mining - it is lucrative for Equifax!!! 

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