Demand Insights: Predictive Analytics In The Financial Services Sector

Banks and insurers do a great job acquiring customers, but they fall down when it comes to cross- and upselling other services. Few financial services institutions even know if the customers they have are actually the kind of business that they want. Forrester's survey shows that banks and insurers are increasingly turning to segmentation and predictive analytics technology to help them figure out who's the right customer, what's the right offer for them, and when is the best time to pitch it. This report reviews the drivers and barriers around the adoption of this technology and gleans some marketing insight from a conversation with industry experts at IBM about how it helps its banking and insurance customers profitably convert their shoppers to loyal buyers.