Westpac taps into new big data streams for customer delivery

Australian banking group deploys Teradata data analytics platforms to drive better insights around customer service delivery and fraud

Westpac has partnered with data and analytics platform provider, Teradata, to tap into a new seam of big data within the organisation and further its customer engagement strategy.

Westpac is investing in Teradata’s Unified Data Architecture and Aster Discovery Platform technology to uncover patterns in very large datasets the vendor claims haven’t been possible using the banking group’s existing data analytics capabilities. The insights are being used to better Westpac’s personalised offers and services to customers.

The deal also sees Westpac developing new insights to reduce loss and fraud. The objective is to engage different parts of the organisation to draw on new analytics technology and data sources.

“Working alongside the Teradata team, we created a vision of the outcomes, quickly proved them and by engaging IT, defined the processes and architecture to ensure the technology swiftly delivered on the business promise,” said Rachel Rohlach, Westpac’s executive manager of CRM capability, CRM&D for AFS Strategic Marketing.

“We have been able to combine these new data sources with our existing ones and test new technology, such as Hadoop.”

Teradata general manager of advanced analytics, Alec Gardner, said its Unified Data Architecture was designed to allow IT to more rapidly test, process and provision new, large and disparate data sources that lines of business can then use for analysis.

He told CMO one of the key success criteria for the Westpac technology project was ease of use, and that business analysts could continue using the capabilities for further analytics initiatives across growing pools of structured and unstructured data.

Related: Customer-led big data programs deliver millions to Westpac’s bottom line

Gardner said Westpac had been a Teradata data warehousing customer for many years and was drawn to the growing analytics product stack after interacting with the vendor’s US customers at its global customer conferences. The scope of the latest work was based on a business problem and how big data could be used to help investigate the issues on a larger scale, he said.

“As is the case with pretty much all of our customers, the first driver is marketing or communications, as they are looking at new channels to market and getting the new data sources,” Gardner said. “Marketing at Westpac was heavily involved here.

“But what the Westpac team was very conscious of doing – and the reason they have been so successful – is to ensure anything they did was easily deployed into production. Thus, IT needed to be engaged. The ‘steering committee’ for this project included IT representatives, and to ensure other people in the organisation benefitted from the data, a cross-section of different business teams were also sponsoring this including call centre, fraud and service delivery.”

While the “getting” part of the analysis work happened in a matter of weeks, and data insights were quickly available, translating these into actions does require an organisation to understand the context around that data and depends on the business domain deploying it, Gardner said.

“In marketing, you do want to be diligent and understand the context around the data. Just because someone is acting in a certain way in one digital channel, you don’t necessarily want to intervene without understanding the customer holistically,” he said.

Now that Westpac’s cross-section of business analyst teams can access further data streams, Gardner expected them to expand the types of questions they ask.

“The beauty of data discovery is that we’ve proven a capability for Westpac to let its analysts get new data, combine with existing data sets very quickly, and just keep asking questions,” he said. “Having introduced some new capability, there is now a kind of ‘community’ developing and a stream building up of new ideas, use cases and data sets. This should be a never-ending flywheel of constant analytical testing and development.”

Teradata’s big data capabilities expansion

Teradata has been ramping up its big data analytics offering in recent years, and acquired the assets of Revelytix and Hadapt earlier this year in a bid to broaden its Hadoop big data processing capabilities.

Earlier this week, the company announced an expanded partnership with enterprise data analytics management vendor, Cloudera, around technology integration and alignment, as well as a unified approach to go-to-market, sales and support under its Unified Data Architecture. Under the agreement, Teradata can also resell Cloudera's Enterprise Basic, Flex and Data Hub editions.

In September, the vendor scooped up US-based Think Big Analytics to bolster its big data consulting arm.

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

Is your customer experience program suffering bright shiny object syndrome?

You may have heard of ‘bright shiny object syndrome’. The term is used to describe new initiatives undertaken by organisations that either lack a strategic approach, or suffer from a failure to effectively implement.

Leveraging technology to stand out in the sea of sameness

The technology I'm talking about here is data and marketing automation. Current digital marketing methodology, much as it is practiced at Bluewolf, dictates the need for a strategy that does four things: Finds the right audience, uses the right channel, delivers the right content, and does all of that at the right time.

Eric Berridge

CEO and co-founder of Bluewolf, an IBM Company

Lead Management is very important part of the process. For anyone running Facebook Lead Ads I would recommend using this service.Get your...

Dirk Lo

How this fintech startup is improving content marketing and lead generation

Read more

I am agreeing with Mr. Tyron Hayes that a measured test-and-learn approach could be missing opportunities to not only better engage custo...

brunson5862@mail.ru

CMO interview: How Curtin University’s marketing chief is using test and learn to cope with complexity

Read more

Excellent!

Dr Sadasivan,US

Shakespeare shows data and creativity aren’t Montagues and Capulets

Read more

Great article! Agreed with all... Matthew Lerner, Deeps De Silva... When a company has a great product that solves customers needs, a gre...

James Tyler

Why marketers are embracing growth hacking techniques

Read more

Very good article, Social media analytics helps in problem identification. They can serve as an early warning system for negative custome...

BizVinu

Four ways to use social media to boost customer loyalty

Read more

Latest Podcast

More podcasts

Sign in