1.
New wave analytics enable Australian financial
institution to improve customer focus and target
high performance
Summary
Customer-centricity is increasingly important to maintain market share and grow
in the competitive financial services industry. Transforming vast amounts of data
into useful information enables organizations to tailor a mix of products and
services customers truly value.
A leading Australian financial institution realized the potential of analytics to improve
service and advance its competitive position. The client is one of Australia’s largest
financial institutions and among the top 100 financial institutions in the world.

2.
The initial assessment revealed that traditional
tools and processes were keeping the internal
analytics team focused on administrative and
low-value tasks. As a result, they did not have
sufficient time to pursue high-quality insights,
and to test new ideas and learn.
Accenture proposed a sales-leads pilot project
that leveraged new in-memory technology.
The pilot demonstrated a doubling of the
institution’s leads-based contact and conversion
rates on deposit intake. Staff members became
able to tap insight-based information, allowing
them to connect in the moment at deeper levels
with customers.
The project team also analyzed the effectiveness
of sales and service staff, with the objective
to identify characteristics of top-performing
employees. This information potentially would be
used to develop well-focused key performance
indicators (KPIs), specific metrics used to
monitor performance and enable improved
staff management. The information being
generated also allows for more effective branch-
comparison analyses and for setting new targets
for improved performance.
High performance delivered
Even before the project concluded, the financial
institution was benefiting from new wave
analytics and business models. It saw measurable
financial gains from increased products per
customer, new business acquisition and account
retention. These gains have been linked directly
to enhanced insights from new-wave data
New initiatives were launched that would
not have been possible using traditional
analytics. These have included an offer to
reward customer loyalty, and a program to
encourage cross-selling and upselling based on
enhanced customer-profiling capabilities. Staff
satisfaction has improved as team members are
able to connect in the moment at more personal
levels with customers.
Accenture has helped the financial institution
establish a sustainable capability, and allowed
the institution to manage and run analytics
internally. As new opportunities are identified,
the model applications developed can be
replicated and adapted to realize additional
gains and service improvements.
Management continues to explore additional
ways to integrate analytics-generated insights
to improve decision making, leverage knowledge
and spur innovation. Going forward, Accenture
will help the institution expand the use of
advanced analytics into areas such as risk
management and finance.
Copyright © 2013 Accenture
All rights reserved.
Accenture, its logo, and
High Performance Delivered
are trademarks of Accenture.
Business challenges
Facing a mature market, new technologies and
changing customer behaviors, the organization
targeted customer service as a strategic priority,
and set a goal to become the nation’s finest
financial institution.
Legacy systems, however, hindered effective
customer-centered strategies. Consequently, the
leadership team selected Accenture to upgrade
technology.
The program resulted in an enterprisewide
infrastructure that provided the institution
with real-time information capabilities.
Taking the next step to capitalize on its IT
investments, leaders of the organization
sought opportunities to use advanced analytics
to improve business outcomes.
For example, the organization could combine
customer data from the data warehouse and
the enhanced IT system to develop new-wave
analytics capabilities. Compared to traditional
analytics, new-wave analytics take data captured
in interactions through multiple customer-
facing channels—including face-to-face, phone,
Internet—relying on automated systems to help
generate insights in near real-time.
Recognizing Accenture’s ability to help
businesses pursue high performance, the
financial institution asked Accenture to examine
ways in which analytics could drive higher-value
outcomes. Real-time information and advanced
analytics could be harnessed to personalize
the customer experience and identify sales
opportunities. Accenture’s extensive experience
with analytics also could help members of
the internal analytics team strengthen their
capabilities, enabling them to make greater
contributions to achieving overall strategic goals.
How Accenture helped
The financial institution launched a program,
blending internal resources with Accenture
professionals. In the first stage, the Accenture
team assessed organizational capabilities using
the Accenture Enterprise Analytics Diagnostics
(EAD) Tool.
The assessment clarified opportunities to
leverage vast amounts of information to
personalize the customer experience. In
addition, the institution saw new ways to use
enterprise-wide information to identify well-
tailored sales opportunities.
The project has demonstrated how traditional
data and new wave analytics can be integrated
to advance the financial institution’s brand,
competitive position and overall profitability.
As a result, this Australian institution is a step
further to pursue high performance and achieve
its strategic goals
About Accenture Analytics
Accenture Analytics delivers the insights that
organizations need to make better business
decisions, faster. Our extensive capabilities
range from accessing and reporting on data
to predictive modeling, forecasting and
sophisticated statistical analysis. We draw
on deep functional, business process and
technology experience to develop innovative
consulting and outsourcing services for our
clients in the health, public service and private
sectors. At the intersection of business and
technology, Accenture Analytics enables
organizations to achieve the business outcomes
that drive high performance. For more
information about Accenture Analytics, visit
www.accenture.com/analytics.
About Accenture
Accenture is a global management consulting,
technology services and outsourcing company,
with approximately 259,000 people serving
clients in more than 120 countries. Combining
unparalleled experience, comprehensive
capabilities across all industries and business
functions, and extensive research on the
world’s most successful companies, Accenture
collaborates with clients to help them become
high-performance businesses and governments.
The company generated net revenues of
US$27.9 billion for the fiscal year ended Aug.
31, 2012. Its home page is www.accenture.com.