Financial institutions track a myriad of data points. But an individual data source seldom paints a full picture. Bringing tracking platforms together can yield powerful insights that financial marketers can leverage for maximum precision when targeting consumers.
I remember the first day I learned what a "JOIN" statement was in a programming class in college. I remember thinking this is going to be really useful someday. If you are not familiar with the SQL JOIN statement, it is a programming function allowing you to combine two or more tables of data in a database to act as one, typically with a common key. For instance, if you could join a table listing the pet preferences (i.e. dog, cat, fish) of individual customers with a table showing which customers do or do not have a credit card you could use the data to drive personalization of a YouTube campaign promoting dancing pets and credit card offers. Nowadays I wouldn't describe the ability to join data sources as "useful," I describe it as critical. Below are two examples of website projects in which we used combined data sources to drive website improvements.
Read the full article in The Financial Brand here.