Customer Analytics: The Benefits of Big Brother

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6 September 2018

Best practices for leveraging customer analytics.

Key research questions

  • What do the nextgen (“millennial”) segment of investors expect from the financial services industry?
  • How are wealth managers using predictive analytics to reach and serve clients?
  • What are the best practices for delivering contextual messages leveraging customer analytics?


Celent's 2014 report Don’t Be Creepy: Analytics and the Client Experience found clients did not react positively to contextual messaging leveraging customer analytics. Since then, customers have come to expect transparency and data-driven insights from nonfinancial industries, and increasingly from financial firms. This report discusses use cases and best practices for delivering contextual messaging by leveraging customer analytics.

While in the past the financial services sector lagged other industries in utilizing customer analytics, now wealth and asset managers and fintechs are using analytics for many use cases. In this report, we highlight two use cases of customer analytics that are particularly topical: 1) to provide an impact score based on purchases, and 2) to provide purchase optimization recommendations.

In this report Celent discusses best practices around communication (authenticity, minimal notifications, clearing explaining the risks associated with data sharing), marketing (loyalty programs), and security (customer control centers).