Intelligent banking solutions with big data
- Precise Profiling Customers Based on Deep Insights
Having sufficient understanding about each and every customer is critically important for any company, if it wants to be successful in business. This is true for the finance industry as well. Noah’s Ark Lab, together with the Enterprise Business Group of Huawei Technologies, is working with a commercial bank in China to build better models of its customers using the big data in the bank.
This opens up the opportunity of building a precise profile in the digital world for each customer living in the physical world. The challenge is how to effectively and efficiently use the huge amount of user data, product data, transaction data, and so on, to accomplish the profiling goal, which needs both deep insights into the application domain and strong capabilities in large scale data mining. Traditionally, there were less than one hundred features utilized at the bank to represent the profile of a customer. With the user modeling tools developed by the lab, thousands, even millions of features are currently exploited for much more accurate profiling of each customer. As a result, the bank is able to increase by a factor of six the success rate of their targeted advertisements. This saves a significant amount of costs and improves customer satisfaction. The value brought to the bank by the large scale user modeling technologies of Huawei is no doubt tremendous.