South Africa has a spending culture with low savings levels, which is evident in many segments of the population.
With a low growth rate and a tough economic environment in South Africa, consumers have turned to accessible unsecured credit facilities.
Data analytics can be used to predict the best possible date to collect debts from customers based on historical payment behavior. Armed with this information and aligning with the collections strategy allows a collector to increase the probability of a successful collection in the future.
Source: IT Online