Financial Data and Key Metrics Changes - TransUnion achieved 8% consolidated revenue growth on a reported basis and 7% on an organic constant currency basis, with organic constant currency growth reaching 11% when excluding last year's significant breach remediation win [25][26] - Adjusted EBITDA increased by 8%, with a margin of 36.3%, exceeding guidance of 35.6% to 36.2% [26] - Adjusted diluted earnings per share rose to $1.06, marking a 6% increase and surpassing the high end of guidance [26] Business Line Data and Key Metrics Changes - U.S. Markets revenue grew 7% on an organic constant currency basis, or 13% excluding last year's breach win, with adjusted EBITDA margin at 38.4% [28] - Financial services revenue increased by 19%, or 12% excluding mortgage, driven by strong performance in a stable market [28] - Emerging verticals saw growth accelerate to 7.5%, with double-digit growth in insurance and strong performance in trusted call solutions and marketing [31][32] Market Data and Key Metrics Changes - International revenue grew by 6% on an organic constant currency basis, with Canada, the UK, and Africa achieving double-digit growth despite challenging economic conditions [10][34] - India experienced 5% growth, slightly below expectations due to new tariffs impacting U.S. export-dependent businesses, but is expected to see high single-digit growth in the fourth quarter [10][35] - The UK and Canada both grew by 11%, driven by strong volumes from major banking customers and new business wins [38][39] Company Strategy and Development Direction - The company is advancing its technology modernization to drive cost savings and innovation, with plans to complete U.S. credit migrations by mid-2026 [13][16] - TransUnion is focusing on AI-led growth, leveraging proprietary data to enhance product offerings and improve operational efficiency [21][22] - The company is committed to increasing shareholder value through share repurchases, raising its repurchase authorization to $1 billion [7][24] Management's Comments on Operating Environment and Future Outlook - Management raised 2025 guidance across all metrics, expecting 8% organic constant currency revenue growth and 9% adjusted EBITDA growth, reflecting strong third-quarter performance and stable lending trends in the U.S. [5][12] - The company remains optimistic about the long-term growth potential in India and the mortgage market, anticipating a normalization in mortgage activity as interest rates decline [56][59] - Management emphasized the importance of innovation and product development in driving future growth, particularly in the areas of credit analytics, fraud, and marketing solutions [60][61] Other Important Information - The company incurred $34 million in one-time charges related to its transformation program, with cumulative expenses totaling $349 million [27] - The company expects to deliver $35 million in operating expense savings by 2026 and reduce capital expenditures to 6% of revenue [16][50] Q&A Session Summary Question: How much of the U.S. Market growth is coming from FICO pricing pass-through? - Management indicated that a significant portion of the 5% growth relates to mortgage pricing, with strong growth in consumer lending and emerging verticals contributing to overall performance [64][66] Question: Are you incrementally reinvesting into strength? - Management confirmed that they are accelerating investments in product innovation and AI initiatives to sustain growth, while maintaining a conservative approach to guidance [75][80] Question: How sustainable is the growth in emerging verticals? - Management stated that the growth in emerging verticals is stable, with no one-time factors affecting the results, and highlighted strong performance in insurance and marketing solutions [82][84] Question: How is TransUnion positioned in the marketing business with proprietary data? - Management emphasized that TransUnion's proprietary data and regulatory compliance provide a defensible foundation for growth in marketing and fraud solutions, with AI expected to unlock further opportunities [92][94]

Group 1 - The training event aimed to assist over 40 specialty product store managers from Central China in enhancing their e-commerce capabilities through professional training in retail platform operations and marketing [1][10] - The essence of advertising was emphasized as a "value addition" rather than merely a "communication tool," with a focus on effective product operation to amplify conversion rates [3][10] - Various promotional strategies were introduced, including single product promotion, new product promotion, and full store promotion, catering to diverse merchant needs [3][10] Group 2 - The training provided hands-on teaching on precise advertising strategies, emphasizing the importance of data insights and systematic operational techniques [5][10] - Key performance indicators such as CPC, ROI, and conversion rates were discussed, along with methods for precise user targeting and cost control [5][10] - Merchants expressed positive feedback, indicating that the training helped them identify previously overlooked areas for improvement in their store operations [7][10] Group 3 - The Zhengzhou Digital Economy Industrial Park was introduced as a hub for AI, cloud computing, and data elements, offering technical empowerment and resource connection for enterprises [9] - The park has implemented six major preferential policies, including rent reductions and platform resource discounts, to support businesses in reducing costs and enhancing efficiency [9][10] - The event highlighted the importance of data-driven growth and precise user targeting, aiming to foster collaboration between JD and local specialty merchants for future success [10]

Core Insights - The article emphasizes the importance of a structured capability model for product operations, highlighting the transition from execution to strategic thinking in the context of data-driven growth [1][3][29] Group 1: Core Capability Model - The core capabilities of product operations are categorized into three levels: foundational, advanced, and high-level, each requiring different skill sets [3][10] - Foundational skills include data sensitivity and user insight, focusing on the ability to analyze user engagement and activity effectiveness [4][5] - Advanced skills involve strategy formulation and cross-department collaboration, requiring the ability to design actionable strategies based on data analysis [7][8] - High-level skills encompass commercial thinking and industry sensitivity, focusing on understanding business value and market trends [10][18] Group 2: Development Pathways - The development pathway for product operations is divided into three stages: novice (0-3 years), growth (3-5 years), and breakthrough (5+ years), with each stage having specific learning focuses and action strategies [10][11] - In the novice stage, the goal is to become a competent executor, emphasizing data and user understanding [11][12] - The growth stage requires a shift from execution to strategy, with a focus on data-driven decision-making and team leadership [14][15] - The breakthrough stage involves driving business growth, requiring advanced commercial acumen and industry awareness [16][17] Group 3: Importance of CDA Certification - The CDA (Certified Data Analyst) certification is highlighted as a highly recognized credential in the data field, beneficial for career advancement in product operations [19][21] - CDA certification enhances both capability and career adaptability, serving as a bridge from execution to decision-making roles [26][27] - The comprehensive curriculum of CDA covers the entire data analysis process, making it particularly relevant for internet product operations [26][28]