BI Tools for Industry Solutions

BI Tools for Credit Unions

Our BI Tools offer front line analytic solutions that allow your operational leaders to be faster to insight and faster to action – enabling you to outpace the competition.

BI Tools’ Key Benefits for Credit Unions:

  • Customer Segmentation and  Profiling  – enhance cross selling to large and profitable clients through greater insight into client readiness and  timing.
  • Sales Accelerator for CRM – capture greater share through deepened customer relationships, driven by clear and  actionable customer insight.
  • Cross-sell and Up-sell – Optimize use of expensive branch  sales resources.
  • Churn/Attrition – compressed analysis cycles and  finer targeting with stronger messages transform marketing into a competitive weapon.

Build Long-term Customer Value

Increasing long-term customer value is a central idea in customer retention. To excel at this, the Credit Union  that  competes on analytics  can increase the speed and volume of their promotional activity  without the risk of data outpacing the ability to analyze and  act on it. The result of using this type of BI Tools is the ability to:

• Dynamically segment the customer base into actionable groups.

•  Execute campaigns far more responsively to highly  targeted and  segmented audiences with focused value propositions through preferred channels.

• Leverage the investment in branches and  increase sales effectiveness by distributing analytic capability across the organization.

• Identify and  incubate best potential customers.

• Identify cross sell opportunities and  timing.

• Identify and  reduce attrition.

The bottom line result of competing on analytics  – more profitable relationships with more loyal customers.

Compete on Analytics, Compete on Speed

One of our highly recommended BI Tools for Credit Unions is TIBCO Spotfire.  This enterprise analytics set of BI Tools powers the solutions that  provide the insight and drive the actions on the path  to profits. Spotfire software enables sales and marketing professionals to perform complex expert customer and market analyses without being expert in underlying statistical or data tools.

Your organization can compete on analytics  and  speed by leveraging the domain knowledge and  experience of your people through visual interactive analytics.  Spotfire BI Tools provide the solutions for your Credit Union  to outpace the competition while building long  term customer value.

Fully Interactive and User Driven Functionality Campaign Analytics

The automation of campaign management has accelerated the campaign cycle beyond our ability to analyze it, resulting in high  volume but  low yielding marketing. Spotfire BI Tools for Campaign Analytics compresses campaign analytics and planning into a single integrated  process by transforming analytics from  a backroom operation to a high  speed front  office activity,  turning your campaign cycle into a competitive advantage.


Credit Union Branch Dashboard

Measure branch effectiveness as a sales channel via dynamic dashboards.

Customer Segmentation and Profiling

Spotfire BI Tools guide users through accepted processes, accesses algorithms and  presents users with a visual experience to understand and  act on context specific and one-time use segments and  clusters. Statistically driven universal customer segmentation schemes, such  as best customer models, have great utility but  little use beyond targeting, leaving marketers and  sales people questioning how to take action. Pricing, value proposition and  even message determination can now be done with high response and  with systematic analytic  guidance. Spotfire software changes the workflow by bringing segmentation into the front  office to create unique but  actionable audience groups for every campaign or action.

Branch Sales Accelerator for CRM

Branches are the most important channel for selling, but they are still managed as a service cost  center. The Spotfire Sales Accelerator part of the set of BI Tools provides the solution to monitor and analyze branches with clear metrics that show branch sales performance and  efficiency. Credit Unions  have deployed Customer Relationship Management (CRM) systems to enable the sales force to be more productive, but  they do  not  provide the analytic  insights needed to manage this channel. Sales Accelerator leverages the insight and  knowledge locked away in the captive CRM data  and  provides the tools  to segment and target your leads to focus on the best opportunities.

BI Tools dynamic Customer Segmentation Dashboard view

BI Tools dynamic Customer Segmentation Dashboard view

Beyond the Basket – Cross-sell  and Up-sell

Cross-sell and  up-sell analysis has been stuck  for years with market basket analysis – identifying  product attachment rates and  potentially demographic affinity to various products. These modeling techniques were created in the retail industry and  ignore the rich vein of information to be discerned from analyzing transactional trends in Credit Unions. TIBCO Spotfire BI Tools provide ways to use these trends to inform you of when a customer may be ready to purchase.

Stem the Tide – Using Pattern Recognition to Predict Churn/Attrition

Through deposit and  credit accounts, Credit Unions have the unique opportunity to see their customers’ usage trends over time. Some of these trends are indicative of impending customer behavior, the most onerous of which  is the loss of that customer. TIBCO Spotfire provides BI Tools  and  methods for pattern recognition – both human visual pattern recognition and  more algorithmic approaches – to project when an event may  occur,  providing valuable time to change courses and prevent the loss of one of your most valuable resources – your installed customer base.

Finding the Future – Best Customer Projection

Most  companies today have a best customer model – platinum, gold, silver – usually based on some variation  of lifetime value (LTV). By modeling the transaction stream that  made these customers the most valuable, you  candetermine which customers are on the same path  to become a member of one of your most valuable segments. TIBCO Spotfire helps you  identify your high  potential customers to address them with different service levels and  other differentiated offers to facilitate and  ensure that  these customers become MVPs.

The TIBCO Spotfire Experience

The TIBCO Spotfire BI Tools give the Business User the  experience of interacting with information and provides the ability to quickly  see patterns, trends, and  outliers in their data.  Using the visual medium for data  exploration and  analysis,  Spotfire BI Tools enables nonstatisticians to quickly and easily perform otherwise complex analyses and make key statistical methods approachable through its user friendly interface.  This is exactly why we recommend this set of BI Tools.

Please contact Terry Martin today at (630) 574-7656 for more information on how to integrate Spotfire BI Tools into your Credit Union.