SAS, the leader in business analytics software and services, has announced that Hyundai Securities, one of the largest financial institutions in Korea, is using SAS Customer Intelligence as the basis of its Customer Segmentation system, used companywide for customer marketing.
Hyundai Securities mission is twofold, target VIP customers that drive retail profits, and better cater to their needs with targeted, preference-based product and service offerings.
Hyundai Securities is using SAS Analytics to help design a VIP customer management program and a new customer welcome program. In the future, the company plans to better serve those customers through statistical models that will allow the company to recommend products to its customers, based on analysis of each customer's individual purchase preferences.
"After building the Customer Segmentation system, we commissioned a marketing research firm to conduct a phone survey and focus group to test the accuracy of the insights delivered by SAS Customer Intelligence. SAS' analysis turned out to be very accurate," says Seung-Gwon Park, Hyundai securities customer marketing team director.
"For example, SAS Customer Intelligence estimated new customers brought in by the sales team to be about 10%, and the quantitative survey of 1,000 customers found this to be accurate."