The Financial Brand Insights - Fall 2022 Article - Flipbook - Page 4
your organization's needs and business objectives.
This approach maximizes opportunities and
minimizes costs and risks. Leveraging Prescriptive
Consumer Data Analytics to develop a branch
network that is based on changing consumer
behaviors, technology needs and financial usage
patterns will help institutions position themselves
for the future. It can also help them to attract and
retain the best employees.
Identifying and procuring optimal locations is
a significant strategic issue financial institutions
face. The “build it and they will come” model of
branching no longer works in today’s competitive
physical space environments. Such important
decisions need to be backed by consumer
demographics, psychographic analytics, an
understanding of Market forces and competitive
analysis. (Figure 1)
With the experience of completing more
than 800 financial projects and hundreds of
projects for some of the nation’s largest and
most successful retailers, such as Starbucks,
McDonald’s, Walgreens and Panera Bread, The
Redmond Company has developed a proprietary
process of evaluating, ranking and converting
the Prescriptive Consumer Data Analytics into
actionable data. Using Prescriptive Consumer
Data Analytics, Redmond provides data-driven
Figure 1
Tapestry Segmentation insights are used to help identify
the ideal and most profitable customers/members.
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THE FINANCIAL BRAND INSIGHTS
FALL 2022
