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SUBMISSION INSTRUCTIONSCreating Customer Value Score for Credit Card Business
Overview of Use Case
The National Commercial Bank (NCB) is a prominent Saudi Arabian bank and the leading financial institution in the region. The bank is considered the largest and the first to officially be licensed and to operate in Saudi Arabia. In the Credit Card department we want to optimize our high volume data, cluster customers, deliver better products and campaigns. Alteryx impacts analytics in the organization and helps deliver new profitability model outcomes for the credit card business.
A wide range of analytical outputs are required in order to manage and drive the decision making process in the credit cards business. Data prep and dataset building are considered cornerstones for the analytics team. The starting point is to flag certain behavioral transactions (e.g. Merchant industry + Local/international). Blending/combining the data is the second part. We link different datasets based on one/multiple common variables producing the desired output.
We want to understand our customer’s behavior to provide better campaigns that fit their needs, so we decided to optimize our data. Initially, blending and optimizating several data sources and formats, in a clear and fast model, was a challenge. On the other hand, the market demands are changing as customer’s behavior is changing due to COVID-19. So this model will help us prepare the campaign faster. By knowing the target customer based on behavior, we are trying to increase the credit card transactions to generate more profit.
In the banking industry the alignment must be done between many stakeholders due to the catastrophic effect a wrong decision may have since we’re subject to SAMA regulations, Banking industry best practices, Anti-money laundry law, local and applicable international laws. Therefore, the stakeholders include, Risk, compliance, Customer Care, Marketing, Portfolio team, Finance, IT, MIS etc.
Initially, the Portfolio team and I built a Scoring matrix that gives each customer a score and we can know the valuable customers. Also in a high level, we have seven customer categories.
Based on the matrix, I used two datasets, customer and transactions, both files are CSV format. I started to work in Alteryx Designer cleansing the data and building the model.
- Forecasting potential impacts of a decision under different variables or different scenarios.
- Building Customer Value Scoring model allowing the business to assess the feasibility of utilizing a business opportunity.
- Cost optimization analysis and comparing it against customer fire back complaints.
Alteryx increases productivity and delivers accuracy. There are some main benefits from using the platform:
- Saving money: Building such a model usually costs a lot of money, by outsourcing such activity.
- Saving Time: Because it's code-free it saved our time. I built this model within three days.
- Quality: Alteryx makes the modelling process very easy and clear, seeing each steps in the analysis process makes data modelling quality accurate.
- Return-on-investment: By running and extracting the data in a short period of time we can go live with a segmented campaign and that will impact our revenue positively.
