US data and analytics specialist Teradata has developed a system
for banks to
analyse web and mobile data alongside traditional
information.
Until now, banks have been able to analyse a limited number of web
data streams along with traditional data using Teradata’s
Integrated Web Intelligence<http://www.teradata.com/t/products-and-services/integrated-web-intelligence/>tool.
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By GlobalDataThe system allowed banks to view data from 10
different sources such as Google’s web advertising tool
Doubleclick, Google web analytics and other web analytics tools
such as Omniture. Now the data giant has developed a system for
third party software developers to integrate up to 2000 new fields
of data.
Speaking to RBI at the Teradata Partners Conference in San
Diego, Teradata customer experience strategist Paul Barrett
explained that the new system would allow banks to look at
information from Facebook, Twitter, mobile analytics tools and
other third party data feeds.
“This data can now be seen alongside more
traditional customer data, such as when and where transactions took
place,” said Barrett.
The improvement has been facilitated by Teradata which provides
code and protocols for developers to use openly, in the same way
that Facebook, LinkedIn and Twitter allow third party developers to
use its code in order to build new, bolt-on products.
Barrett said that the new “open API” development is due to go into
testing with a number of its clients over the next three
months.
Barrett added: “This development has the potential to let banks
analyse their customers’ activities regardless of whether they
access the bank using the internet, a smart phone or an ATM.”
“It will also provide banks with a new way of seeing just how
effective their marketing spend is,” he said.
Banks are increasingly spending more time and
effort on marketing through social media and the internet; but they
also continue to use TV, print and direct mail.
This development would allow them to track the
results of this marketing activity in one platform, Barrett
added.
