Automatic Big Data Marketing Machine Learning Solutions for Finance
G-STAT BRAINs™ applications help financial institutions to increase responses to their outbound and inbound campaigns by up to 50% while shortening time-to-results of machine learning projects from months to hours.
Banks, insurance companies, credit cards issuers and other financial institutions face the daily challenges of maintaining customers' growth activity and long-term retention. Transformation of banks into financial services "supermarkets" has increased the need for tools to match the most suitable product to each customer.
Most financial institutions use predictive analytics tools for their daily marketing operations, but usually miss many cross-sell or churn prediction models. These models require relatively long development and deployment time so ROI until now was not tangible enough. Such institutions run targeted campaigns based mainly on business rules, with very few on statistical models. This leads to a relatively low response rate of the targeted marketing activity. On the other hand, developing, updating and maintaining a large number of statistical models for a range of products and services requires considerable resources as well as budget.
Sales BRAINs enables the marketing staff to automatically develop and deploy hundreds of statistical cross-sell models while Retention BRAINs allows retention managers to automatically develop and execute dozens of churn prediction models. These models analyze products and services, customer segments and mini-segments, structured and unstructured data. Dozens of models can be created in a single working day, instead of the man-months and years required with other tools available on the market for the same outcome.
Value BRAINs help to strategize and predict the customer lifetime value and how it can be impacted by customer actions such as downloading the bank's app, participating in a investment consulting meeting, migrating to a new commissions plan, etc.
G-STAT patent-pending Multi-Segment-Modeling technology allows designing and deploying propensity models on customer segments rather than on whole populations. Using this technology, G-STAT customers using Sales BRAINs, Retention BRAINs and Value BRAINs enjoy model lifts of up to 50% higher in comparison to manually-developed models using any data mining tool. This leads to higher response rates in outbound and inbound campaigns, augmented revenues from targeted campaigns and visible ROI after only one or two campaigns.