In the increasingly competitive environment for banks and credit unions, every potential advantage should be pursued. One of these advantages is to market additional products to our existing customers rather than to new customers since our existing customers already know (and hopefully trust) us, and we have so much data on them. But how can this best be done? How can we market the right products to the right customers at the right time? Predictive analytics can do this by forecasting which customers have the highest chance of purchasing a given financial product.
Published in 2017 and presented at the 2017 SAS Global Forum.