According to Capgemini Research Institute, 82% of bank executives report that their teams have difficulty identifying relevant customer segments — a huge problem that can drive up major acquisition costs and significantly reduce retention rates. In fact, insightful customer segmentation is a critical cornerstone of effective business management, marketing, and product development within consumer banking.
Many firms have developed deep business knowledge which is applied to their customer pools using business rules logic, slicing the overall customer base into subgroups based on actual or potential revenues, product mix, digital engagement, and much more. These existing customer analytics can provide meaningful insights and are often driven by qualitative insights or historical practice. However, as shown by the statistic above, this isn’t enough.
Leveraging a data-driven approach to segmentation introduces the possibility of new perspectives, complementing and boosting your existing expertise. By creating a unified space where existing business knowledge and analytics are presented alongside new and easily generated machine learning (ML) segmentation, business teams immediately benefit from the inherent value of ML while preserving continuity with already established analytics. It’s the best of both worlds.
How Can Dataiku’s Business Solution Help You Reach Full Potential?
Business Solutions are Dataiku add-ons accelerating the way to achieve advanced or foundational industry-specific use cases within your organization. They are an operational shortcut to achieving real-world business value. Taking advantage of Dataiku’s core features, they are built to be fully customizable and entirely editable.
They come with:
A user-friendly interface that enables fine tuning to match specific business requirements
Ready-to-use dashboards that can be customized
Documentation and training materials
Dataiku industry specialists develop solutions for every vertical, among which:
- Retail & CPG: distribution spatial footprint, market basket analysis, RFM-enhanced customer lifetime value, product recommendation
- Financial services and insurance: interactive document intelligence for ESG, modern insurance pricing, AML alerts triage
- Health and pharmaceuticals: omnichannel marketing, accelerating drug repurposing
- Manufacturing and energy: predictive maintenance, outliers detection
As a result, business professionals experience a boost in AI productivity and can rationalize their resources.
How Does It Work in Practice?
1. Upload Data: Get started in minutes, not hours. Using the step-by-step application, easily load your existing customer demographic and customer product data into Dataiku.
2. Explore Web App & Dashboards: Dive into an easy-to-use dashboard and get immediate and actionable insights that can be presented directly to business users and management via a visual interface.
3. Personalize: In addition to the pre-built Dataiku dashboard, leverage your own custom creations to adjust the parameters in order to fit your business needs and seamlessly integrate ML insights with your existing segmentation processes and analytics.
4. Automate & Branch Out: Refine your processes and set them to run automatically, discovering new customer pools and improving existing approaches with each iteration.
Start accelerating your growth with improved customer insights with these requirements:
- Customer demographic data and customer product data
- Dataiku version: 9.0 or later