The UK's Co-operative Financial Services (CFS) is deploying predictive analytics technology from California-based Knowledge Extraction Engines (KXEN) to sharpen its direct marketing campaigns.
KXEN says the technology utilises mathematical techniques to improve the speed and accuracy of analytical modelling which can be applied to direct, postal, e-mail, Web and telephone campaigns.
Neil Pollitt, customer insight manager, CFS, says: "We're a small team with a lot to deliver and for our purposes we felt we could get real value out of KXEN."
The vendor says one of the first models built by the Co-op's customer insight team with KXEN analytics led to a significant increase in actual campaign performance but required less time to build and apply than previous models.
"We demonstrated that the model worked exactly as predicted, and it showed a good uplift and benefits as a result," says Pollitt.