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What constitutes "Customer Intelligence" and how is this intelligence acquired - specifically in the financial sector?

What constitutes "Customer Intelligence" and how is this intelligence acquired - specifically in the financial sector?

We have masses of customer knowledge in finance – we have been collecting it both informally and formally via our operational systems for years. IDC predicts that the amount of customer data will double every year for the foreseeable future - many of us would probably say that prediction is too conservative.

What we need is new intelligence about the customer. Intelligence that gives us a better understanding of the past, allows us to compare and contrast the present and – most importantly – predict the future.

This intelligence will not be in a form that can be drawn from any one system. Instead we will need to go through a process of combining and transforming that data into something new that we can use in our business decisions.

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This will be Intelligence about customer behavior, customer profitability and customer risk. Combining this intelligence, we can gain concrete and measurable insight into an understanding of the customer up to the current day, and we can use it to predict likely customer actions in the future.

This customer intelligence is where we can discover new patterns and trends, predict future activity and behavior and where we formulate our segmentation strategies.
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