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Beyond Basic Clickstream Analytics

Abdul August 17, 2020

5th Largest Bank in USA

Problem Statement

  • With customers adopting more channels to interact with the bank a 360degree view of the customer is the need of the hour
  • There are multiple sources of data in a banking scenario, with the volume being very high.
  • The data sources are not homogenous in nature, some are legacy systems some online channels some offline channels etc.

Analytics Led Approach

  • Considering data Storage, retrieval and query processing time for online – offline data integration Adobe Insight was found to be the better suited as the solution
  • Integration of the non homogenous data sources: :with Adobe Insight integrate online and offline data
  • Online Analytics – Adobe Site Catalyst
  • Target Marketing & Offer Management – Adobe Test & Target
  • Multi-Channel Analytics – Adobe Insight
  • Recognizing customers using common key across multiple channels and storing Analytics data on a Cloud in a secured way
  • Building unified online & offline data store
  • Building Personalization through segment identification and content /marketing relevance

Business Impact

  • Leads analysis, path analysis, particular campaign analysis
  • Increased product adoption due to Cross sell & Upsell
  • Increased ability to examine the effectiveness of campaigns across channels , ultimately affecting the conversion and revenue impact of cross-channel campaigns 
  • Insight is able to provide customer segment exports to targeting platform Adobe Test & Target
  • increased effectiveness in customer targeting,
  • upsell & cross selling campaigns optimized
  • Insights on customer segment buying behavior

Critical Success Factors

  • Insight provides 1k leads per hour to the Salesforce team for lead tracking: based on abandonment from web
  • Benefits to the Bank as highlighted in the Forrester Research paper
  • Achieved risk-adjusted 3 year ROI of 25%.
  • Reached break-even on the investment within one year
  • 10.5% increase in NPV due to changes based on A/B testing

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