Boeing's "eBusiness Intelligence" system up and running, sign of times
TUKWILLA, Wash. - Boeing Employees' CU is looking for some artificial intelligence to help manage its member relations.
Taking MCIF a step further, BECU recently installed an "eBusiness Intelligence" system from Sagent Technology, Mountain View, Calif., that gives BECU staffers real-time access to member profiles.
Butch Leonardson, vice president of information technology at BECU describes it as a "Web-based data warehouse with an integrated e-commerce system."
Leonardson called the system "amazing" and says it is as good as it gets with accessing member information because it integrates Extract Transformation Load (ETL) data technology, and Online Analytical Processing (OLAP) technology.
With the new system BECU marketing and operations departments are now provided with real-time access to a complete view of member profiles and financial activity history, which the CU says has led to more effective member relationship management.
Leonardson said the problem with an MCIF system is that by the time it is updated, the information is 90 days old. "You need someone in marketing dedicated to just handling MCIF," said Leonardson.
He said this system gives marketing professionals simple buttons to push and the system drills down on its own and gets the latest member information.
The system delivers critical data to the market research department in real-time via the Web. In this phase one rollout it includes data associated with member transactions, check processing, IRA investments, loan activity and market share history.
Marketing employees will be able to analyze member activity to devise targeted, one-to-one marketing campaigns and drive cross-selling initiatives.
"It required very little training time for the BECU staff, allowing us to begin implementation very quickly," said Leonardson.
Interestingly, the whole process of business analysis, design planning and installation of the eBusiness Intelligence system took just 90 days.
Member relationship management has improved dramatically in the two months the system has been active, according to BECU.
The credit union will next roll out phase two of the system this month, which will focus on mortgage lending and credit card analysis.
A real-time snapshot of customers seems to be a sign of the times in the financial sector.
Experian recently unveiled Intravue, a database solution that is designed to help financials better manage their customer relationships by providing online access to marketing databases from a remote PC.
Intravue has its own Business Intelligence component that is deployable in a Web or non-Web based environment.
But of course it's not enough to get the member data real-time, it has to be analyzed. Experian has another product that uses customized "clusters", which are groups of individuals that can be identified by some profile criteria and treated separately from other clusters. A different model can be developed for each customer type.
"While yesterday's challenge was simply storing vast amounts of data, today's challenge is taking that information and using it to produce meaningful and actionable results," said Marc Fanelli, vice president of analytic services for Experian. -email@example.com