India's largest platform for AI & Analytics leaders, professionals & aspirants

Sign in

India's largest platform for AI & Analytics leaders, professionals & aspirants

3AI Digital Library

Beyond Basic Clickstream Analytics

3AI 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

    3AI Trending Articles

  • Accentuating customer experience: Digital Chat Agents & Chatbots

    As e-commerce (and retail in general) becomes increasingly global and competitive, business leaders understand that AI can be a valuable tool in reconnecting with consumers. AI has the power to analyze huge amounts of data from numerous sources, including human behaviors and emotions. This can then be used to create more meaningful customer experiences. Take, […]

  • Transforming Customer Experience through Unified Business Functions

    Author: Souvik Das, AVP – Platforms & Offerings, Genpact Digital and Pramit Dasgupta,VP – Platforms & Offerings, Genpact Digital The recent pandemic has changed customer expectations and interactions in many ways. Forever. As organizations evolve through the new normal and gear up to satisfy their customers, there is a need to rethink and redesign how […]

  • Future Proofing GCCs

    For a while now, India has been driving back-office functions for some of the large enterprises across the world. However, over the past few years, it has taken giant strides towards becoming the innovation hub of the world, by adding strategic value to multi-billion-dollar businesses from around the world, through Global Capability Centres (GCCs) based […]

  • A Framework for Analytics & AI Value Realization

    We’re living in times of a great data paradox. One side of the paradox is the explosive growth of data in and around us. Here are some facts reported in IDC’s Global Data Sphere to corroborate this: – 59 Zettabytes – total volume of data processed in the year 2020– 26% CAGR – the forecasted […]