Tuesday, April 27, 2010
Final database marketing class
Good job Marketing 455 students! The students presented the final case, a Harvard one, entitled, "Pilgrim Bank" which is a study in how to determine the most profitable customers for a mythical bank. Students analyze the data in stages and at first it looks like online banking does not make a customer profitable but then we need to take age and income factors into account and when doing so, online banking is a factor in profitability. Students run various regression models and come up with the solution with the most explantory power. The students did well and were able to understand and analyze this advanced case. Their SPSS skills have improved and they were able to get to the heart of the case with some legwork. We also discussed what other types of data Pilgrim Bank might want to use to better understand its customers, both internal and external and how the Bank can manage customer relationshps for maximized lifetime value. Database Marketer extraordinary, Rob Jackson, an interactive marketing advisory board member, came to class and helped provide insight to our discussion. Thanks, Rob!