- Industry: Financial Services
While banks typically have a wealth of data available to support decision making, interpreting it properly can be a significant challenge. Consider:
- Are you unable to identify root causes of underwriting losses, customer attrition, or fraudulent activity?
- Are you challenged to increase customer share of wallet or understand what drives customer satisfaction?
- Do you feel your existing business intelligence or analytics models can be further refined to reveal additional insight into these challenges?
- Are you unable to incorporate all internal and external variables into your current analysis?
- Do your existing models struggle with inconsistent, incomplete data sets?
How well can you interpret data?
Statistical tools used to mine data may often provide insight into only small portions of a data set. Limited computing power compounds this problem by further reducing the amount variables that can be included in the scope of most models. If you want to develop the precise insights necessary for success and profitable performance in today’s dynamic banking landscape, West Monroe Partners and HyperCube® can help.
Better, more complete answers
We can help you improve insight and decision making by applying HyperCube®, an innovative tool that provides more complete answers than traditional statistical models—root causes and business rules that traditional
solutions simply cannot produce. You can use HyperCube® to answer questions about some of your biggest operational issues, such as:
- Which customer profiles are more likely to default?
- Which customers are more likely to respond to marketing campaigns?
- How can fraudulent activities be identified sooner?
- How can my existing models be refined to go from good to great?
HyperCube® is a mathematical-based technology that derives business rules without the need for human-defined hypotheses. It utilizes state-of-the-art algorithms and unique computing capabilities to provide results with much greater precision than usual statistical methods. West Monroe applies this solution to help quickly derive answers to your most pressing issues, usually producing a complete set of business rules within a few weeks that can drive significant tangible value.
We help you improve decision making
West Monroe Partners combines deep banking experience with the complex event intelligence of HyperCube® to help you remove the limitations of traditional statistical analysis and maximize the power that resides in your data today. We work with you to leverage HyperCube®’s innovative “bottom-up” analyses—which eliminate the analytical biases and assumptions of averages or “best-fit” logic—to dramatically improve the way your organization makes decisions. We will work alongside your team to define the most impactful use cases and guide you in implementing the business rules discovered by HyperCube®.
Apply award-winning capabilities
More than 300 organizations across a wide range of industries have used HyperCube® to drive performance and competitive advantage. In fact, the MIT Sloan School recognized HyperCube® in its 2010 “Innovation Showcase” and the Pasteur Institute named it the “best performing data analysis.”
How can HyperCube® help you address and fix your biggest issues? West Monroe Partners can show you how to harness its power to improve your understanding of and ability to manage:
- Risks within product and customer portfolios
- Customer behavior, acquisition, relationship management, cross selling, and attrition
- Potential sources of fraud and abuse
That’s business in the right direction.