Data Centre Storage Sumitomo Mitsui builds largest Japanese financial marketing database Carol Ko @itworldca Published: November 29th, 2008Sumitomo Mitsui Banking’s newly expanded market database built on the Teradata Active Enterprise Data Warehouse has recently become the largest marketing database in Japan’s financial industry, claims Teradata.Having started operations in late September, Sumitomo Mitsui Banking’s (SMBC) marketing database is now four times as large as its predecessor.More from ITWorld Canada Four factors that impact data quality — and three ways to deal with them Marketing databases used in Japan’s financial industry are generally called ‘MCIF’ (marketing customer information files). They are used to gather customer information on basic attributes, transactions, deposit or withdrawal details, contact history, and other data for effective marketing. SMBC, one of the three mega-banks in Japan, has been using a Teradata-based MCIF since late 1990s for database marketing.Enabling business analyticsSMBC’s recent expansion of marketing database is said to accommodate business growth, carries several years of detailed historical data on customer transactions, and enhance customer service by analysing and understanding transaction trends and changes more accurately.Are database admins keeping up with the database? For example, marketers can gain customer insight by exploring self-service terminal interactions that affect the customer’s balance. Marketers can quickly analyse interaction frequency and changes in payee accounts, which helps the bank offer home loan service to customers who are considering purchasing a house, or offer card loan service to those who need a small amount of funds.More from ITWorld CanadaRecession-proofing your core analyticsMarketers can also practise proactive marketing by using analytics to foresee customers’ financial needs. When analysis shows that a customer is inclined to leave for another bank, it is possible to contact them in advance and make an offer that helps retain them and maintain long-term relationships.Multi-marketing channelsThe results of the data analysis made by the MCIF system are used across a variety of marketing channels such as branches, terminal networks, the Internet and by the front-line salesforce to identify prospects.White PaperBusiness Analytics: Six Questions to Ask About Information and Competition “We are honoured that Sumitomo Mitsui Banking is building its Teradata system for querying its enormous amount of data,” said Yukihiko Yoshikawa, president of Teradata Japan. “Our database is used by many financial institutions not only for marketing but also for better faster decision making in business management, accounting and operations.”Teradata specialises in data warehousing, consulting services and enterprise analytics. Related Download Sponsor: Schneider Electric Why Cloud Computing is Requiring us to Rethink Resiliency at the Edge Register Now Data Centre, Storage financial industry, Japan