What is the Fabric of Life and why does it matter?

The phrase “Fabric of Life” refers to all the intertwining threads that make up a fabric, where the fabric is an individual, and the threads are everything that contributes to their life and character.

These “threads” include the individual’s life events, their job, their friends & family, their personality, their hobbies, their lifestyle, where and when they travel, their education, as well as due diligence and ID.

This information can tell you so much more about an individual than traditional and demographic data can, enabling you to base business decisions on an individual as a whole rather than just a small percentage of their online data.

So many businesses are unknowingly restricting themselves by relying on traditional data. How can a business make a fully informed and accurate decision based solely on this traditional data? The answer is that it cannot. No decision based purely on traditional data is fully informed, and by doing so you as a company risk making inefficient decisions and ultimately losing money.

Traditional data costs companies vast amounts in multiple industries. Millions of potential customers miss out on loans that they can afford because of the limiting nature of traditional credit scoring; millions of pounds are lost every year to staff turnover due to hiring the wrong person for a role; and only a tiny fraction of recipients of online marketing buy something as a result due to the ineffective technique of targeting consumers by demographic.

This is how the Fabric of Life can help. PROFILE takes into account the Fabric of Life, meaning that much more information is used to make every single business decision. It takes into account the consumer as a whole, their character, their likes and dislikes, the holidays that they take, pretty much everything that is made available about them online, and tells businesses how likely they are to misuse credit cards, how organised they are, and even how they respond to marketing efforts.

PROFILE knows your consumers, so you can make your business decisions the best ones yet.

Author Ben Allott