FICO-schmico, with analogy - Posted by AnnNC
Posted by AnnNC on March 22, 2001 at 24:10:09:
Scoring is a business so that data can be given importance, ranked, and sold. I heard that each inquiry
lowers your score. Good. Good reason to explain why
you won’t have multiple inquiry done on yours.
Perhaps someone recalls recent news item about attempt to capture DNA in job application because someone said DNA showed some people’s propensity to carpal tunnel syndrom (a mostly over-use, bad mechanics, and easily- fixed problem, if addressed through ergonomics, job-re-assignment, cross training, and work-station adaptation (usually, the keyboard position).
The merchandising approach is that if it can be measured, it MUST
be meaningful. This is not necessarily so, but if we can “prove” it, we can "sell"
it, sell our program to address or manipulate the information.
Someone gets paid to create that
Having little power to change FICO scoring system, perhaps one should just service the market that it creates, but in a good way, that gets business done,
and not just a curing -of- scores approach.