Customer Relationship Management in the Financial Industry by Federico Rajola

Author:Federico Rajola
Language: eng
Format: epub
Publisher: Springer Berlin Heidelberg, Berlin, Heidelberg

6.5.1 Case Studies

The following case studies reflect experience of the application of business intelligence systems in some of the major international institutions in the finance industry.

6.5.1.1 Midland Bank

Midland Bank, now acquired by HSBC, used scoring techniques, campaign test design, and test-and-campaign evaluation to carry out customer segmentation and targeting.

The targeting techniques used customer and external data together with a promotion campaign and came up with a method that singles out the importance of individual data; they combined these to produce a scoring formula, linked scoring values with purchase inclination, tested the formula on new data, and finally used the formula on a large scale.

The campaign test evaluated and optimized the use of alternative offering strategies and identified the customer group for which each particular strategy was the optimum. In this way, in this campaign the best strategy could be used for each customer, instead of the one that brings the best results overall.

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