The Decision Maker

Know Thy Member And Be Glad

Posted by Aaron Wang on Aug 25, 2013 3:55:09 PM

Aberdeen Research recently conducted a survey among credit unions and other banking organizations to determine their use of business intelligence (BI) tools. In one major section of the study, Aberdeen analyzed the results in terms of institutions that used BI to analyze their customers and those that did not.

The comparison between the two groups on several key measures showed the customer analytics group achieved superior results.

20130825IMAGE

Aberdeen came away with these recommendations:

Gain insight to retain members and increase market share

Knowing more about members will allow credit unions to understand what programs work and choose new programs to increase membership and retain existing members.

Use customer analytics to increase wallet share and drive profitable relationships

Cross-sell and upsell opportunities are vastly simplified with solid customer analytics. By identifying high potential targets among members, the probability of success for these programs is improved.

Topics: Reporting and Analytics, Analytics, Credit Unions, Decision Support

Subscribe to Email Updates

You now have more information at hand about your credit union than ever before. But are you using it to "out-think" your rivals? If not, you may be missing out on a potent competitive tool.

This blog will:

  • Educate subscribers about data integration and Big Data and Analytics.
  • Provide tips and best practices.
  • Provide entertainment.
  • Share ideas and expertise.

Recent Posts

Posts by Topic

see all