Boston, MA – April 13, 2012 – In new research, Leveraging Marketing and Analytics in Banking, Mercator Advisory Group reviews how retail financial institutions (FIs) are discovering the power of the combination of marketing and analytics to uncover customer wants, needs, and behaviors for more targeted marketing.
The increasing proliferation of data and the rising importance of marketing are discussed as well as promising analytical technologies, potential concerns, and strategic implications.
“Today’s financial institutions are among the most prodigious users of data. They create, store, and use massive amounts of data, much of which is unstructured, housed in disparate systems, and replicated throughout multiple channel management systems.
Trying to make sense of these ever-increasing amounts of data is becoming increasingly difficult. This is compounded by the amount of data in the various channels, as well as the need to integrate and synchronize this data,” Ed O’Brien, Director of Mercator Advisory Group’s Banking Channels Advisory Service, comments.
This report is 25 pages long and has 10 exhibits.
Organizations mentioned in this report include: Apache Hadoop, Accenture, Cardlytics, EMC, FICO, Harte-Hanks Trillium, Harvard Business School Press, HSBC Canada, Informatica, Information Builders, MicroStrategy, Oracle, Pegasystems, SAP, SAS, SAS/Information Week, ScotiaBank, and Wall Street & Technology.
Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
Highlights of this report include:
- The keys to effectively leveraging data to better understand customers' needs and behaviors to fully engage with them
- The causes of increased data and the challenges the amount of data poses to FIs
- The disciplines that can be integrated to enable retail FIs to develop, analyze, monitor, and execute more targeted and effective marketing programs
- Ways in which FIs can leverage various marketing and customer information databases to learn deep customer insights to inform their actions