We can build quick, on-demand models for one-off campaigns.
Senior Modeling Analyst
Barclays Moves into the Predictive Modeling Fast Lane
- As Barclays publicly declares its objective to become the best retail bank in the UK, the bank’s marketing department needed a new generation business analytics technology to help sharpen the marketing of new financial products.
- Conventional modeling required analysts to restrict variables to a few tens or hundreds.
- Variable selection used to be a fairly manual process that took as long as four to six week.
- Selected InfiniteInsight® for its speed and its capacity to deal with large datasets, and its ability to read in SAS data directly.
- Also critical were ease of use and the way InfiniteInsight® outputs code that can be immediately applied to scoring models on the database.
- Barclays’ Teradata warehouse holds information on some 14 million active customers, with data on many different aspects of customer behavior.
- InfiniteInsight® does the entire job of deciding which variables are going to be predictive.
- In the retail area, InfiniteInsight® not only informs the targeting of sales campaigns but also the most effective channel over which to reach customers and prospects.
- A significant increase in speed, productivity, flexibility and ease of use, giving Barclays a new edge in marketing its products with tangible income benefits.
- The productivity gains mean Barclays can create many more models than before, including quick one-off models and speculative ‘what if?’ models.
- Being able to build and test multiple models early on in a campaign ultimately leads to more accuracy.
- InfiniteInsight® routinely generates models accepting thousands of variables, which lets users consider many more factors about a product and its target audience, allowing them arrive at a much more informed conclusion about who might buy it.