VIENNA, Va. – Navy FCU has implemented Predictive Analytics software from SPSS Inc. to delineate the needs of its members.
The $35 billion credit union uses the software to create a one-to-one relationship with its nearly 3 million members. The goal is to increase overall member understanding, improve satisfaction and reduce member churn.
Navy Federal uses SPSS Predictive Analytics to analyze survey data, seeking hidden variables or patterns that could be used in creating specific programs to maximize member satisfaction. Predictive Analytics identified a need to enhance bill payment methods, increase the size of the credit union’s call centers, and expand the branch office network. This analysis led Navy Federal to proactively add free online bill payments, expand its call center, develop additional checking products tailored to specific groups of members and also invest capital to build new branch offices.
More than 60 credit unions deploy SPSS Predictive Analytics for customer segmentation and acquisition analysis, direct cross-sell and up-sell opportunities, and branch location analysis.
SPSS is based in Chicago.
