Bank of Communications chooses Teradata for events-based marketing

Source: Teradata

Teradata (NYSE: TDC), the leading analytic data solutions company, announced that the Bank of Communications, China's fifth largest commercial bank, has deployed its event-based marketing solution on the Teradata Active Enterprise Data Warehouse platform.

The solution will enhance the bank's ability to make the best decision possible based on its enhanced operational performance and effectiveness.

"Before initiating the event-based marketing project with Teradata, we were unable to collect a complete set of customer information, because of the challenges of data inaccuracy created by multiple data sources and quickly changing data. We needed a solution to integrate data and improve data quality," said head of the project at Bank of Communications.

"With the powerful solution and consulting service from Teradata, we are now able to run targeted marketing campaigns with better customer information and precise customer relationship management."

During the first three-months, Teradata helped execute two successful event-based marketing campaigns with a record response rate of nearly 56 percent for one campaign, which is more than any previous programs. Based on the analysis of customers' attributes and behavior, event-based marketing will be used to retain profitable customers, acquire high-potential customers, and enrich the customers' experience.

Since 2005, Teradata has been providing professional service to Bank of Communications and helped build itsenterprise data warehouse. This system currently hosts the bank's mission-critical business applications and offers data services to key business users with more than 60 business intelligence applications. In September 2011, the Bank of Communications selected Teradata as its solution provider for marketing.

"Today's financial market is increasingly competitive and bank's customers are becoming more diversified and sophisticated. To outperform the competition, banks need to segment the customers and provide them with differentiated offerings," said Aaron Hsin, president of Teradata Greater China. "Teradata will continue to help our customers to drive value from their data and provide them with agile and intelligent competitive advantages."

The Teradata solution will enable the bank to create a closed-loop marketing management process. The closed-loop marketing management process includes information integration, data analysis, sales leads discovery, channel communication, selling process management, and campaign feedback. 

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