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In anticipation of his upcoming conference presentation,Driving Superior Growth Through Self-Developed Code, Scoring Modeling, and Price Optimization, at Predictive Analytics World
Boston, Sept 27-Oct 1, 2015, we asked Herman Jopia, First Vice President and Data Analytics Manager at American Savings Bank, a few questions about his work in predictive analytics.
Q: In your work with predictive analytics, what behavior do your models predict?
A: We have developed and implemented attrition, profitability, and response models.
Q: How does predictive analytics deliver value at your organization? What is one specific way in which it actively drives decisions?
A: Predictive analytics helps us to understand our customers and prospects. In practice that means a better answer to questions like who to target, what to offer, why it makes sense, and when and how to do it. For example, our response model for direct mail helps us to manage volume and reduce costs by excluding prospects that have a low propensity of taking the offer; therefore, it drives a lift on our profitability metrics.
Q: Can you describe a successful result, such as the predictive lift of your model or the ROI of an analytics initiative?
A: Besides monitoring the models and metrics, we actually look at how these models impact both growth and profitability. For example in 2014 our targeted direct mail offers dramatically increased the volume and ……
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