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Payment
and Purchase pattern management |
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The credit card industry depends on
optimization for making critical decisions regarding credit
line management, customer retention, collections and marketing
decisions. Credit card issuers can create strategic offers
if they study the purchase pattern of their customers to understand
card user preferences and how consumers might respond to explicit
pricing of card transactions. Transaction pattern study gives
information on consumer’s financial history and further
details like what they buy, where they travel and whom they
communicate with. |
Qtech
Solutions Statistical Analysis Team will collect information
from client’s database to study usage trail of each
credit card perform list selection. This will lead to effective
marketing without invading individual privacy. |
| The pattern discovery
phase can be best described using the following figure: |
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Qtech
Solutions Analysis team will classify customers into different
clusters based on the number of transactions a customer performed
in a particular segment. After identifying the number and
percentage of customers in each cluster, our team assists
client to target right customers for a specific marketing
promotion. |
Qtech Solutions analysis team also studies
the credit card payment patterns from the clients database
to classify customers into different clusters based on their
payment pattern. Some consumers pay only the minimum balance,
some might directly debit their account with full amount due,
or some others may be having irregular payment behavior. This
analysis will assist the client in understanding the number
and percentage of customers in each cluster, their balance
information, FICO score (www.myfico.com)
and thus segment them into clusters based on the ratio between
payment amount and balance amount. Qtech Solutions Strategic
team will assist the clients in targeting right customers
for a specific marketing promotion. |
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