As Financial Institutions (FI’s) become more aware of the
mass amount of metrics they have access to, the need to be able to analyze this
data increases. Just as big data hits the limelight, “first-movers” have
already moved on to bigger and better analytics, found in predictive analytics.
If you’re looking for a way to continue to push forward in
terms of data, metrics and analytics – predictive analytics is for you.
According to Predictive
Analytics: The Future of Financial Marketing by The Financial Brand, here are
four marketing trends marketers must take into account:
- A need
to generate customer relationship revenue
- Evolving consumer
behavior and expectations
- A
continued focus on improved operational efficiency
- The
need for competitive differentiation through digital engagement
While this may seem like elementary points in advancing in
analytics, they are crucial in gaining “good” insights, which demonstrate a
proper representation of your customer base or target audience.
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