Banks caught in the data warehousing quagmire got relief this summer when ActionSystems forged a multi-company alliance to provide a "holistic" solution for quantifying customer value and deriving maximum benefit from the data warehouse. With the integrated offerings of ActionSystems, Hewlett-Packard, Exchange Applications, Information Advantage, Profit Management Group and Thinking Machines, banks can build the ultimate customer profitability solution onto their existing systems, says Steven Carpenter, president of ActionSystems.
The companies have combined their areas of competency to meet banks' data warehouse challenges, says Meridien Research's Bill Bradway, principal and research director. ActionSystems develops learning systems and tools that foster strategic initiatives at the point of customer contact, thus expanding relationships. HP, which can create and maintain decision support systems for the largest of institutions, is the systems integrator. The other players bring analysis, profitability services, data mining, and campaign management components to the solution. Says Bradway, "Banks that have a customer data warehouse tend to spend 95 percent of their investment dollars on building the solution and only five percent on (applications for) it. This alliance provides banks a business application that produces tangible bottom line benefits." J.Bers