CROSS SELL/UP SELL
Improve upsell/cross-sell conversion rates from historical transaction patterns. Traditional methods require significant hand-crafted feature engineering.
- 1.Automated the process of identifying and segmenting customers financial behavior.
- 2.Derived micro segments based on customer behavior and insights into micro segments.
- 1.The challenge here is to use historical transactional data and patterns to understand the customer’s propensity to buy a new product.
- 2.Traditional approach involved segmenting customers based on demographics.
- 3.A multilayer deep learning network was constructed to analyze the financial transactions and identify the behavioral patterns.
- 4.The behavioral patterns were then segmented using a clustering techniques, and the clusters were auto named.
- 5.The propensity of the customer to buy financial products was estimated based on behavior.
Significant lift in top 3 Deciles (15-55% spread throughout).