Marketing is crucial for any new product or service that the bank has launched. It has to be taken to the existing customers as well as new customers in the most convincing way. Deep insight detailed analysis of the customers’ data helps in identifying the strategies that have worked best in the past and are most likely to work for promoting new products.

This makes customer segmentation and portfolio analysis an important use case of BFSI analytics systems. Customers’ data can be segregated in different ways such as based on their loan queries (home loan or car loan) or account types (money market account or checking account). Powered with this information, a customer relationship officer can find the right time and way to contact the customer and have a high possibility of conversion.

Banks are operating on multiple channels. Conducting a market campaign analysis can help to find the most profitable channels and optimize spending across all of them.