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Briefs

Navy Federal Credit Union Capitalizes on Predictive Analytics Software from SPSS

Wins 2009 Technology ROI Award

Nucleus Research Recognizes SPSS Customer for Third Consecutive Year CHICAGO, Ill., and VIENNA, Va. - Sept. 1, 2009 - Navy Federal Credit Union, the world's largest credit union, today announced it has received a 2009 Technology ROI Award from industry analyst firm Nucleus Research. Predictive Analytics Software (PASW�) from SPSS Inc. (Nasdaq: SPSS) has contributed to Navy Federal�s ability to improve member satisfaction, corporate expansion and increased member lifetime value.

This is the third consecutive year that Nucleus Research has recognized an SPSS customer for its use of Predictive Analytics Software providing significant return within business processes. Navy Federal has realized an incredible 1,531 percent return on its technological investment over a two-month period, resulting in an average annual benefit of almost $1.5 million, according to the Nucleus Research Assessment.

Navy Federal continually surveys its members to gauge satisfaction and understand sentiment related to lending, savings and checking, investments and insurance. To truly understand the Voice of the Customer (VoC) and determine the reasons why members responded - and how they would likely respond in the future - Navy Federal is using various products from the portfolio of Predictive Analytics Software from SPSS, including PASW Statistics, PASW Modeler data mining workbench and PASW Text Analysis for Surveys to analyze open-ended survey responses.

For more information, please visit www.spss.com.


KDnuggets : News : 2009 : n17 : item18 < PREVIOUS | NEXT >

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