A large global bank was struggling with reducing churn in profitable customer segments. A key challenge was integrating customer interaction data across multiple channels from numerous silo’ed repositories. The size of the data – billions of records per month - also made the analysis of this information a very complex exercise.
Leveraging the powerful analytic capability of the Teradata Unified Data Architecture, this leading financial institution built an enterprise view of all customer interactions and identified the most frequent paths to account closure across all interaction channels. As a result, the bank reduced customer churn amongst profitable customers by 5%, simply by identifying and removing events that were causing a high number of account closures.
Technology leveraged includes:
-A Teradata Enterprise Data Warehouse for historical customer transaction, profile and product information
-Teradata Aster to analyze and discover patterns through nPath analysis
-Hadoop for loading, storing and refining data and optimizing storage costs