SPSS Analytics Partner | Case Study: Bank of Ireland

Case Study: Bank of Ireland

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Solution Components

  • IBM SPSS Statistics
  • IBM SPSS Text Analysis
  • Presidion Consultancy Services

“Presidion (formerly SPSS Ireland) Consulting were brilliant. They helped us turn our situation around so that we are now spending 80% driving outsights out of our data and 20% of our time actually collating data. We are now able to concentrate our time and resources implementing our customer strategy”

Stephen Moran, Lead Analyst Bank Of Ireland

Bank of Ireland – Addressing Customer Satisfaction issues in Real Time

 

Using Customer Feedback to Drive Profitability – they are now spending less time collating the data and more time driving insights out of the data.

 

Overview

Bank of Ireland was established in 1783 by Royal Charter and today has 16,000 employees in 8 countries worldwide. The Market Strategy group is responsible for driving strategic development of Bank of Ireland Retail Ireland. A significant part of this mission involves the management of the customer sentiment research programme from which is delivered insights that are used across all of retail banking to shape the customer experience.

 

Business need

Bank of Ireland Retail Strategy Marketing was embarking on a new customer incentive programme that required the collation of many thousands of records of consumer sentiment information. They needed to increase the operational efficiency in the collation of survey data. In order to complete this process successfully and efficiently, Bank of Ireland Retail Strategy Marketing evaluated several suppliers but IBM SPSS offered the greatest flexibility in terms of manipulating the data, the collation of the data and IBM SPSS were also available to assist in the automation process.

 

Solution

Bank of Ireland Retail Marketing Strategy used both SPSS Software and Presidion Services to complete this project. With the SPSS Software they used IBM SPSS Base & Tables and IBM SPSS Text Analysis for Surveys, they also engaged the use of Presidion Services to assist in the process of automating the reporting system.

 

Using IBM SPSS Text Analysis for Surveys, Bank of Ireland Retail Strategy Marketing was able to automate the manual process of coding verbatim responses. Before using SPSS Text Analysis for Surveys, the Retail Marketing Strategy Department had to manually read and code 20,000 open-ended text responses. This also involved them analysing the results to pick up on key issues that were arising with customers. Stephen Moran, lead analyst with Bank of Ireland states, “With IBM SPSS Text Analysis for Surveys, in a matter of minutes we could pull out key aspects of customers satisfaction and bring customer issues to the fore immediately”

 

Benefits

The main benefit of this process has been the time saving element. As Retail Marketing Strategy has flipped the work process around, they are now spending less time collating the data and more time driving insights out of the data. They are now able to use these insights to shape the customer experience. What took the Retail Marketing Strategy team two weeks to complete, now actually takes them two days. The other side to things is the reduction in human error that the bank has seen. Obviously dealing with large amounts of data, human errors will always arise. The IBM SPS package reduced this error dramatically.

Stephen Moran, Lead Analyst with Bank of Ireland Retail Marketing Strategy, states “there is now a much greater turnaround time in terms of delivering insights from the survey into the Customer Programme. The Customer Programme is the strategy that we are employing to improve and understand the customer. Before we partnered with Presidion, we would have spent the majority of our time engaged in collating the data, while minimal time would have been spent driving insights out of the data”. Stephen goes on to suggest that the main benefits of the IBM SPSS package would include:

 

  • Production cycle reduced by two-thirds thereby freeing analyst’s time to focus on strategic initiatives.
  • Ability to efficiently parse the thousands of verbatim responses collected each cycle. Now in a position to deliver these key messages quickly to the business to underpin quantitative analysis.
  • Ad-hoc requests from internal customers can now be turned around in hours rather than days.

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