Michael Berard is a Senior Pandora Account Executive at Experian Data Quality and a sports enthusiast. His core focus is promoting Experian’s game-changing approach to helping organizations leverage their data as assets.
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The major consumer credit bureaus expect for data furnishers to report on their data in a single, standardized format, known as Metro 2®. While the Metro 2® standards are designed to make it easier to keep credit information up-to-date, many organizations still face many challenges with their Metro 2® reporting. From lack of resources to manual, time-consuming processes, many organizations currently struggling to comply with Metro 2® regulation take a reactionary approach to their reporting. As consumers become more well informed about their credit, through various ease-of-access channels, and as disputes grow exponentially, many data furnishers are looking for ways to ease their Metro 2® reporting.
When it comes to developing and implementing a data management strategy, it’s normal to feel overwhelmed. You have a monumental task in front of you.
During my time with Experian, I’ve had the opportunity to speak with many organizations about their data management practices. In every conversation, I’ve seen the same challenges in various shapes and sizes. But the businesses that have been most successful are the ones that simplify their data management process into terms everyone in the organization can understand. After all, data should be accessible to both IT and business users, right? So speaking a common language will help everyone understand the strategy.