This paper gives an introduction to some basic but critically important concepts of statistics and data analysis for the SAS programmer who pulls or manipulates data, but who might not understand what goes into a proper data analysis. We first introduce some basic ideas of descriptive statistics for one-variable data and then expand those ideas into many variables. We then introduce the idea of statistical significance and then conclude with how all these ideas can be used to answer questions about the data. Examples and SAS® code are provided.
As smaller banks market themselves to increase their market share against the big banks, they understandably focus on gaining new customers. However, they must also retain (and further engage) their existing customers. Otherwise, the new customers they gain can easily be offset by existing customers who leave. Happily, by using predictive analytics as described in this paper, it can actually be much easier and less expensive to keep (and further cultivate) existing customers than to enlist new ones.
Published in 2016 and presented at the 2016 Insurance and Finance SAS Users Group Virtual Meeting.