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Mining Data to Make Money

The biggest banks might have 40 people looking at branch analytics, 50 people doing pricing analytics and 100 people doing market analytics, says Sherief Meleis, a managing director at the New York-based financial services consulting firm Novantas, who estimates that banks that use customer analytics to drive marketing, distribution and pricing can improve revenues by 3 to 4 percentage points per year, and earnings by 10 to 15 percentage points per year.

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