Advanced Software Applications Helps Abbey National Bank Grow Customer Relationships with ModelMAX PLUS.Business Editors & High-Tech Writers PITTSBURGH--(BUSINESS WIRE)--Dec. 20, 2000 ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and (Advanced Software Applications) announces that Abbey National Bank PLC, one of the UK's largest banks, has licensed ASA's ModelMAX(R)PLUS data mining and decision support software to help the Bank build and maintain profitable relationships with its customers. ModelMAX(R)PLUS provides Abbey National with a fast, business-oriented solution for discovering and acting on high-level business intelligence through data analysis. ModelMAX(R)PLUS makes it possible for experienced modellers and statisticians Statisticians or people who made notable contributions to the theories of statistics, or related aspects of probability, or machine learning: A to E
ModelMAX(R)PLUS will enable Abbey National's 800 branches throughout the U.K. to identify specific patterns of customer behaviour and maximize key business initiatives such as cross-selling and up-selling. Accurately predicting customer behaviour and understanding what a customer looks like are essential to successful customer acquisition, development, and retention programmes. For example, ModelMAX(R)PLUS can identify which customers are most likely to accept a cross-sell promotion, and it can also reveal the characteristics associated with those individuals and find additional 'like-groups'. Analytically driven outcomes such as this are paramount to customer satisfaction and long-term effectiveness of the Bank's marketing initiatives. "ModelMAX(R)PLUS is ideal for an organization such as ours that is trying to rapidly expand analytical capabilities whilst optimising use of existing resources," said Sam Korman, Head of Customer Decisioning at Abbey National. "When compared with current costs of development, training, and other software packages, ModelMAX has proven a reliable, cost-effective alternative that complements Abbey National's other analytic techniques and software tools." Prior to licensing ModelMAX(R)PLUS, Abbey National's Customer Decisioning (CD) department assessed the software's benefits during a two-month evaluation. CD is part of the Bank's Retail Customer Risk & Decisioning group and acts as its centre of excellence for customer and risk modelling. A range of models were developed to fully test ModelMAX's capabilities, benchmarking the software against other modelling methods such as logistic regression In statistics, logistic regression is a regression model for binomially distributed response/dependent variables. It is useful for modeling the probability of an event occurring as a function of other factors. and rule induction Rule induction is an area of machine learning in which formal rules are extracted from a set of observations. The rules extracted may represent a full scientific model of the data, or merely represent local patterns in the data. trees. ModelMAX(R)PLUS generates very stable models, matching and often outperforming other techniques in terms of validation of predictability," said Ian Whitbread, Project Manager, who was responsible for the evaluation of ModelMAX(R)PLUS. "You don't have to possess programming or computational skills to use ModelMAX. With its painless learning curve, it is very feasible to build a model in under one hour once the data has been assimilated." Additionally, ModelMAX(R)PLUS effectively integrates with Abbey's diverse systems, importing large data sets such as transaction history, demographics, and a wide range of external data, from major databases like SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. , Oracle, Sybase, and Informix. "We are very pleased with the performance of ModelMAX's data facilities," said Whitbread. The software demonstrated that it can import data from any number of sources." Bill Gossman, President and Founder of ASA said, "With ModelMAX(R)PLUS, Abbey National's analysts are now armed with an additional sophisticated tool which helps reduce labour intensive tasks and provides more time for customer analysis. ModelMAX(R)PLUS goes well beyond identifying trends or tendencies. It predicts individual customer behaviours and reveals specific details as to what customers look like and what makes them unique which is critical in today's CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. initiatives." ASA (Advanced Software Applications) offers multi-channel, enterprise-wide solutions for data mining and decision support including e-commerce. ASA is the only company with fully automated and optimized data analysis via a core technology that is a hybrid of neural networks neural network or neural computing, computer architecture modeled upon the human brain's interconnected system of neurons. Neural networks imitate the brain's ability to sort out patterns and learn from trial and error, discerning and extracting and statistics working together. The result is robust predictive models, and custom clusters and profiles which can be combined with rules and dialog support or 'triggers' for real-time decisioning. In addition to providing leading CRM solutions, ASA provides fraud detection and risk management to the financial, retail, and telecomm sectors. Headquartered in Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , ASA has over 250 clients worldwide including AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. , Bank Sinopac Bank Sinopac, or SinoPac Holding, is a Taiwan-based banking holding company. The bank was founded by Samuel Yin and Paul Lo in 1992 as Taiwan liberalized its banking regulations. , Capital One, Crutchfield, FedEx Ground FedEx Ground is a shipping company headquartered in Moon Township, Pennsylvania, a suburb of Pittsburgh. Originally a small regional package shipping company called Roadway Package System (RPS), it was created to be a discount competitor to UPS. , GE Capital, M&T Bank, Mellon Bank, Plow plow or plough, agricultural implement used to cut furrows in and turn up the soil, preparing it for planting. The plow is generally considered the most important tillage tool. & Hearth (a division of 1-800-FLOWERS), Sundance Catalog, and Supportkids.com. For more information on ASA call 412.429.1003 or visit www.asacorp.com. |
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