Table 3: Predictive Analytics: The Path to Competitive Differentiation
As consumers increasingly migrate to managing their everyday lives through digital channels, traditional marketing tactics, such as direct mail, email campaigns, and television advertisements, will have to be expanded to a omni-channel approach to reach the right consumers with the right offer at the right time. FIs will have to figure out how to better insert themselves into a digital world and find unique ways to engage consumers in interactions based on their needs, life stages, aspirations, and account spending. There is more data now than ever, and with that the opportunity for FIs to learn more about consumer financial needs is stronger than ever. This roundtable discussion will examine the current state of marketing analytics in the U.S., including what data sources are available, what unique data sources are emerging, what analytics techniques are being applied to find quality prospects, and how interactions with consumers will evolve in the future through new digital capabilities.