Abstract
Data analytics capabilities integrated with Customer Relationship Management Systems play an important role to enable customer-centric sales activities at financial institutions. This paper reports a case study on developing a data mining model to identify the Next Best Offer (NBO) for selling financial products to bank’s customers. The case study emphasizes importance of collaboration among data scientists and business representatives in iterative refinement of the prediction models. It has been shown that the iterative refinement and combination of various modeling techniques lead to accuracy improvement by 30% and facilitates acceptance of the modeling results.
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Gončarovs, P., Grabis, J. (2017). Using Data Analytics for Continuous Improvement of CRM Processes: Case of Financial Institution. In: Kirikova, M., et al. New Trends in Databases and Information Systems. ADBIS 2017. Communications in Computer and Information Science, vol 767. Springer, Cham. https://doi.org/10.1007/978-3-319-67162-8_31
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DOI: https://doi.org/10.1007/978-3-319-67162-8_31
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