Currently, the data warehouse holds more than 50 million records with several hundred credit and demographic attributes. The data is refreshed monthly. Keeping the database current is a high priority and the bank is constantly assessing new consumers and applying lessons learned to future marketing promotions. Now, rather than simply ordering lists of names as it did in the past, the bank can model and test ideas based on real world experience. Access to the most current data enables the bank to make better decisions about which prospects are most likely to respond.
Responses continue to appear until approximately two months after the campaign mails.
During that time, a financial profile can change significantly due to divorce, paying off bills, or making a major purchase. Including time series data about consumers enables the bank to make decisions based on trends, rather than a single point in time. Because the bank can access the data warehouse directly, it can test and change segmentation criteria quickly, as late as the day names are extracted from the database. Previously, when the bank purchased lists of consumers, it had to define segmentation criteria prior to placing the order. Now the bank has the flexibility to analyze the data and develop customer models in house.