Customer value generation from Real-Time analysis Qorus Banking Innovation Awards 2015

Big Data and new business intelligence tools will generate new opportunities in line with our business strategy. Bringing real-time into the analysis allowed serving our customers’ preferences and needs in the spot but it also involves managing great volumes of data quickly. After a year using real-time monitoring of customer patterns and applying simple business rules, currently, a wide range of machine learning processes are being implemented to generate more value and intelligent impacts from these tools. For instance, real-time functioning models have been created to forecast the customer’s propensity for a product in order to prioritize the contents displayed in the commercial spaces so the attention and conversion rates are increased. Furthermore, machine learning methods for predicting the withdrawal rates during the purchasing process have been developed. The aim of these tools is generating indicators to refine the commercial offer for our customers and provide them tailored products and services. To that end, we are shifting real-time analysis towards offering the best commercial proposal available to our customers. Three use cases have been defined: Managing the commercial areas efficiently, highlighting /organizing product catalogues and carrying out predictions to minimize withdrawals from the contracting process.