To understand customer needs, preferences, and behaviors, financial institutions such as banks, mortgage lenders, credit card companies, and investment advisors are turning to the powerful data mining techniques in STATISTICA Data Miner. These techniques help such companies uncover hidden trends and explain the patterns that affect every aspect of their overall success. Major successes and savings have been achieved by companies applying STATISTICA predictive modeling to marketing, credit scoring, fraud detection, forecasting and risk management.
One solution among those provided by StatSoft that is used in Customer Analytics within the Financial Industry is the Propensity & Best-Next Action Modeling Solution.
Financial institutions have long collected detailed customer data, oftentimes in many disparate databases and in various formats. Only with recent advances in database technology and data mining software have financial institutions acquired the necessary tools to manage their risks using all available information and exploring a wide range of scenarios. Now, business strategies can be developed more intelligently than ever before.
- Full Range of Solutions: STATISTICA incorporates tools for the full range of needs related to risk modeling. Preparing data for analysis, attribute building, weight-of-evidence coding, scorecard building, model selection, model evaluation, cut-off point selection and population stability are all streamlined into one comprehensive software package.
- Information from Textual Notes: STATISTICA Text Miner enables us to explore hidden information in unstructured data (e.g., textual notes) and use them for prediction
- Enterprise-Wide Convenience: The server platform allows for the delivery of analytic and business intelligence applications to divisions within the enterprise via centrally-managed queries, analysis templates, report templates, and dashboards.
- Reflexive Models for Real-Time Needs: Live Score® processes new customers as they are initiated and updates your credit risk models in rapid turn-around times made possible only by STATISTICA’s integrated solutions.