AI Case Study
Danske Bank improved marketing campaign hit rate by 400% by using machine learning to identify preferred means of communication
Danske Bank, the largest bank in Denmark, set up an advanced analytics and machine learning group. They wanted to model what were customer's preferred means of communication such as email or phone. With machine learning models they have improved targeting of marketing campaign increasing the hit rate by 400%.
Industry
Financial Services
Banking
Project Overview
”'By analyzing customer data we were able to identify the customer's preferred means of communication, such as phone, letter or email. [This sort of valuable info] has helped improve our marketing campaign hit rate by a factor of four,' Büchmann-Slorup says."
Reported Results
They claim they have improved the marketing campaign hit rate by 400%.
Technology
Machine learning for predictive models
Function
Marketing
Channel Marketing
Background
Danske Bank has "created an in-hose startup, Advanced Analytics, whose sole purpose is to shake things up with bleeding edge AI and Machine Learning technology."
Benefits
Data
Customer data