Towards Customer Experience Enhancement Using Customer Analytics: A Case Study of a Leading Indian Private Bank
摘要
Data analytics is revolutionizing financial services, transforming how institutions understand, engage with, and serve their customers. This chapter examines the profound impact of data analytics through a case study of a leading Indian private sector bank, illustrating its practical applications and strategic benefits. Despite its rapid industry adoption, academic research on data analytics remains limited, with best practices still underdeveloped. Extant literature highlights the transformative power of data analytics in service innovation, particularly in advanced economies. However, there is a notable gap in studies focused on developing countries like India. This study’s primary contribution is applying the theories of customer experience in a practical industry context and demonstrating how a progressive Indian bank strategically integrates data analytics to enhance customer experience. By exploring the bank’s real-world applications and mechanisms, the study offers valuable insights for other banking institutions struggling to harness digital innovations, manage data explosions, and sustainably deliver value to customers.