Paul, here is your news:
Sand Technology: FinancialInstitution Uncovers Key
Application Use for Nucleus -- NucleusProves Essential in
Marketing Financial Services to Customers
October 21, 1998 01:00 PM
MONTREAL--(BUSINESS WIRE)--Oct. 21, 1998--A significant
financial institution has made use of Sand Technology Systems
International's SNDCF Nucleus Exploration Mart and Nucleus
Prototype Mart in Customer Relationship Management (CRM)
to bring about a newfound understanding of commercial
customer banking requirements. CRM gives the bank the ability
to quickly align the correct service for a specific customer
through an intimate understanding of its customer base, in
addition to improving overall customer satisfaction and
enhancing ROI to the financial institution. In one case, the bank
had nearly one hundred pages of history on a single corporate
customer. Using Nucleus Exploration Mart, the bank was able
to instantly assess this customer's requirements and past
usage of services relative to other customers in similar
industries and operating regions. In addition, the bank was able
to track commercial loan performances based on industry
types, geographic areas, and other factors such as seasonality,
to help minimize problem loan situations and optimize service
to each individual customer. Nucleus, running on a Unix
platform, allowed the bank to rapidly implement the mart, which
tracks over 250,000 accounts. "Using Nucleus Prototype Mart,
the data modeling took about two days, while creating the
complete system took about a week," according to the project
leader. "This seven-day effort becomes even more exceptional
when you consider that the entire Nucleus effort was
implemented by a single person who had no database
experience and who had other job responsibilities," he added.
The project leader explained that "Nucleus was chosen for its
simplicity and speed of implementation, allowing business
queries to be developed directly with the end users in the
organizational business units. Furthermore, the ability of
Nucleus Exploration Mart to allow any business questions to be
asked of the existing data structure, regardless of initial query
design, enabled the bank to adapt quickly to changing analysis
requirements without any changes to the data design or
indexing requirements. Overall, Nucleus exhibited a four-fold
query performance improvement over other, more expensive,
alternatives, and, most important, allowed the application to be
developed and run in production with a minimum of skilled
resources." Implementation was much simplified with Nucleus,
which in turn significantly reduced tasks related to the
administration of the database and query tools. This simplicity
carried over to the performance tuning tasks as well. Absolutely
no database or index turning is required with Nucleus which
increases the ability to answer oneto what literally used to take
days if a response was available at all. Furthermore, Nucleus'
unique capability to allow important business questions and
analysis to continue while updating and loading the system
allows the bank to easily handle changes in its data as part of
the daily cycle. The increased intensity brought about through
global competition and industry consolidation is driving
corporations to gain a better understanding of their customers.
"Simply stated, a company's ability to create a loyal customer
base is the cornerstone of its success", emphasized Mr.
Horigan, Executive Vice President, Sand. "The price of
miscalculating customer's needs and their specific behavioral
patterns are greatest within large vertical markets like financial,
insurance, retail and telecommunication and these are the
corporations leading the surge in CRM. With today's corporate
priority on solving Y2K issues, there is a vast shortage of
technical resources within corporations for implementing
important decision support systems like CRM initiatives.
Nucleus Exploration Mart and Nucleus Prototype Mart which
allow business organizations to quickly implement systems like
CRM without specialized technical resources are essential, as
this financial institution experienced", Mr. Horigan concluded.
About Sand Technology
Sand Technology Systems International Inc. provides high
performance, scaleable software solutions for data mining, data
marts, data warehouses and online analytical processing
(OLAP). Sand's Nucleus product suite brings patented
technology to the business user allowing for more timely and
accurate decision processings within the disconnected client,
desktop, workgroup, departmental and enterprise computing
environments. Sand Technology can be reached on the World
Wide Web at sandtechnology.com. All Rights
Reserved. Nucleus, Nucleus Server and N-Vector are registered
trademarks and Nucleus Exploration Mart and Nucleus
Exploration Warehouse are trademarks of Sand Technology
Systems.
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