LONDON--(BUSINESS WIRE)--Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of their new article on the role of customer analytics in the banking industry. For banking service providers to succeed in today’s complex business scenario, it’s crucial to understand the needs of their customers. The internal and external data sources available to banking services companies can be great sources for guiding product development, customer communication, innovation, and growth. This data can be further meticulously analyzed using advanced capabilities such as customer analytics to analyze customer needs at a more granular level.
At Quantzig, we believe that leveraging advanced customer analytics solutions can help banking service providers to analyze customer behavior and develop suitable offerings to meet their needs. Furthermore, it can help in effective customer segmentation that reveals specific intelligence that could otherwise be obscured by the sheer volume of data.
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How Customer Analytics Helps Banking Service Providers
1. Offers in-depth customer insights
Most financial marketers are highly interested in the ability to gain a better insight into the current needs of their customers. Demographics and current product ownership form the foundation of customer insight. However, behavioral and attitudinal insights are gaining importance as the choice of channels and product use have become more differentiated.
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2. Enhances customer experience
Leveraging customer analytics solutions not only help improve customer experience but helps banks in delivering personalized, contextual interactions that will assist customers with their daily financial needs. Moreover, if done correctly, customer analytics enables the real-time delivery of product and service offerings at the right time, thereby improving customer experience.
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3. Increases marketing effectiveness
Customer analytics can help businesses to improve the effectiveness and efficiency of sales and marketing. The ability to derive insights on the likelihood of purchase based on the available information on individual customers has ushered in a seismic shift in marketing from product centricity to customer-centricity.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal