Kreditech Group, with their head office in Hamburg, Germany, uses big data and complex algorithms to assess the credit ratings of consumers around the world. The company employs approximately 200 people from 40 nations.
Kreditech subsidiaries in nine countries use the innovative technology to offer high-risk loans and provide other sophisticated financial products.
Kreditech uses the Tableau solution mainly for management reporting but also for product optimization in individual areas of marketing and in finance. Due to the good results, quicker analyses and lower acquisition costs, Kreditech plans to expand the solution to other applications in the near future.
Tableau: Please provide us with your personal details and information about your company.
Sebastian Ranzinger, Head of Business Intelligence: My name is Sebastian Ranzinger. I work for Kreditech. This is a company in the financial technology sector.
Tableau: What is the Tableau solution used for in your company?
Sebastian: Generally, we try to provide Tableau to everyone. Our developers in the areas of business intelligence and data science are the main users at this moment. We also have individual users who come directly from internal customers, particularly from controlling or management. We use Tableau predominantly for management reporting but also in individual areas of marketing for product optimization and in the finance area.
Thanks to Tableau, we have significantly reduced the cost per acquisition in terms of channel optimization.
Tableau: What data sources do you use?
Sebastian: We have a relatively complicated or complex setup with an open-source Postgres database, a MongoDB database and a non-relational database as well as various external data sources, along with manual input. In other words, nearly anything you can imagine. We use Tableau every day, including for real-time reporting.
Tableau: How satisfied are your users?
Sebastian: We looked at several BI solutions in advance, of course, and Tableau consistently got the best feedback. We regularly still get feedback today that’s very positive. It's just very easy and intuitive to use.
Tableau: What do you like about Tableau in particular?
Sebastian: I would say that users most appreciate its intuitive use, as I just mentioned, and in particular the attractive presentation of the data and the speed at which we can analyze data that we couldn't previously achieve.
Tableau:What benefit has the solution brought to your organization?
Sebastian:We use Tableau intensively in marketing. We've managed to achieve very good results in that area. In channel optimization, we have core KPIs, such as the costs per acquisition, which are very important in online marketing in order to make significant savings, and also in central markets and key channels, simply from the fact that information that used to be invisible to users is now available.
Tableau:What was the situation like before you opted for Tableau?
Sebastian:Before we used Tableau, we didn’t actually have a functioning data warehouse. Back then, we used Cognos, but only to a very limited extent as the implementation cycles were far longer than with Tableau and we hardly even achieved initial results. We then decided to go for greater speed with Tableau.
Tableau:Why did you opt for Tableau?
Sebastian:It goes without saying that we had a look at several alternatives and ultimately opted for Tableau. It wasn’t a difficult decision, as the speed of the implementation on one hand and the speed of how users can obtain data and run analyses on the other hand is simply unmatched by any other tools.
Tableau:What is the outlook like for the future?
Sebastian:We are growing and are currently at 200 employees and growing rapidly. So, we naturally want to make Tableau available to everyone. Accordingly, an expansion is planned.