Transcription of Finally: Customer Analytics for Banks - Deloitte
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Finally: Customer Analytics for Banks - Deloitte
Finally: Customer Analytics for Banks That 360-degree view of the Customer you ve been talking about? Now Analytics brings it within reach for Banks . How well do you know your customers? Ask that question of leaders at most Banks , and they ll likely answer pretty well, thanks. But is that enough? Not these days at least not for Banks looking to stay a step ahead of the competition. Customer behavior and preferences are changing at a more rapid clip than at any moment in recent history propelled by changes in technology and the economic environment. Banks that have built their organizations with a product-oriented focus ( if we build it, they will come ) should consider shifting to a more Customer -centric footing in order to stay competitive. One way to effectively make that transition is to cultivate the seemingly mythical 360-degree view of the Customer one that accounts for their current value as well as their potential lifetime value. The truth is, Banks often have deep insights into their customers in fact, compared with many other industries they are generally ahead of the curve.
business analytics and the capabilities they’ve developed as part of their business intelligence (BI) investments. The good news is that BI still has an important foundational role to play in analytics — in simple terms, it’s great for slicing and dicing data to understand what happened in the past and monitor key performance indicators.
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