Skip to main content

Predictive Analytics, Data Driven Decision Making process for Business Revenue Maximization

Previously, Advanced web analytics were used by few big companies to make calculated decisions based on the analytics derived. However, today with most small businesses preferring to go online, data is present everywhere. These online businesses integrate with atleast one analytics software. This helps us to gauge how advanced analytics are relied upon in today’s world. With this article we would like to present the usage of CustomerEngagePro Analytics in Banking domain.

Banking domain mostly relies on the valued customers. With Banking domain going digital, most of the banks have a huge amount of data that they capture for each customer. However, such huge data if utilized well could be a reason for the banks’ growth and expansion. Predictive Web Analytics Solution like CustomerEngagePro analytics has been designed to keep such a data to optimum usage. Let’s see how CustomerEngagePro can help banks leverage the data?

Predictive Web Analytics for Banking - CustomerEngagePro analytics


Cross-Sell, Upsell and More:
Marketing a product to your existing customers is a challenge. If the customer doesn’t like the cross selling product, there are higher chances of losing the customer’s trust in a longer run. CustomerEngagePro can help the bank draw a pattern and predict the customer’s financial usage. This helps the bank’s marketing team predict customer’s behaviour towards a product and arrive at data driven decision making.

Building Customer’s Trust & Retention:
Any business’s success is measured by the number of active users it has. Once a trust is built, retention is inevitable. CustomerEngagePro analytics helps the bank to analyze the call logs, number of times the customer has logged into the system, number of times customer has requested for a service etc., CustomerEngagePro’s Data Driven Analytics helps in understanding customer’s satisfaction and be ensured of retention. Besides, based on the captured data, banks can also mitigate the risk of losing customers by improving their services.

Segmentation and Precise Targeting:
Segmenting customers based on their age or association with the bank or their visits to the bank etc., plays a major role in precise targeting of the customers. CustomerEngagePro helps to funnel in the customers who fall into a particular segment and helps the bank with the necessary data for precise targeting or running marketing campaigns. CustomerEngagePro’s Predictiveweb Analytics gives the necessary details to the Marketing teams for precise targetingand conversions, thereby leading to revenue maximization.
Data driven decision making Process - CustomerEngagePro Analytics


Fraud Detection and Risk Aversion:
Fraud detection plays a very important role in Banking. CustomerEngagePro Analytics alerts the banks of any suspicious transaction on any account. This prevents the risk for the bank and ensures customer trust is maintained. CustomerEngagePro’s advanced analytics draws a customer usage pattern based on his previous transactions. Any deviation from the pattern shall be alerted to the customer or the bank or both based on the level of sensitivity specified in CustomerEngagePro.

Collections:

CustomerEngagePro’s on premise analytics help in segmenting the customers, especially grouping the defaulters and let the collections teams to work on those accounts. CustomerEngagePro’s capability to ensure data-drivendecision making process helps the banking sector comprehensively, leading towards achieving customer trust, retention and revenue maximization.
Labels:

Comments

Post a Comment

Popular posts from this blog

Data Driven Decision Making process for business will help to Increase your Returns | open source web analytics Software

CustomerEngagePro Enterprise web analytics tool solution offers businesses as well as government agencies with a powerful means of improving their internet strategy, providing a way through which customers’ data can be managed easily with the CustomerEngagePro Intranet Web Analytics suites. With this Real – Time Analytics software, you will be able to track and report on integrated customer data and Maximize revenues. Data-driven decision making process for business has become an important aspect in a digitalized business world, and to hold your business stand in a competitive sector, there is nothing you need more than an analytic software that delivers the best result. On premise web analytics tools is your best bet. CustomerEngagePro Analytics is a self-hosted Analytics suite that provides what you need to stay well above your competitors in a digitalized age. It’s a Saver Your visitors are the primary reason why your website was developed, and understanding what th...
Post a Comment
Read more

The role of Digital Analytics in Ecommerce with Actionable Insights : CustomerEngagePro

Digital analytics tools  like CustomerEngagePro tracks website visitors and measures web traffic. Marketers, web developers, and analysts use digital analytics suites to report on the effectiveness and popularity of web experiences and to determine how visitors are finding and interacting with their sites. Today Data plays a very important role in any business-online/offline. The way a business unit processes its data and uses it, decides the growth or fall of that business. With many businesses establishing online presence,  Digital Analytics tools  have secured a prominent place among several IT solutions. Right from knowing the website visitors to the internal usage of Enterprise Softwares, a well architected analysis gives a complete picture of a business. As a business owner, when you run any Analytics on your website, you will know that a good number of visitors have arrived on your website and left. However, there is a curiosity to understand why the visi...
Post a Comment
Read more

3 Hidden features you likely don’t know, that will make you more productive

When dealing with Sensitive data like Customer’s PII, it is very important on how we handle the Data Security. Is there a way we can prevent the data leakage? If yes, what is the best way to handle it? While Cloud Infrastructure handles huge data, it is also vulnerable to the data breach that may occur. Hence, when a data is stored on Cloud it is essential to understand how the data is protected and how well the data has been secured. While encrypting the data and storing the same in Cloud is one option, but again the vulnerability is addressed only to some extent. 1. On-Premise Analytics: Hosting the data in a private cloud or on-premise makes the best option to prevent any data loss and address the security part. CustomerEngagePro gives you solid analytics about your customer data and ensures 100% data security and privacy. It is completely integrable to a private cloud hosted on your network. Reach your customers with the best services and ensure their data is secure and k...
Post a Comment
Read more