A retail bank wanted to understand the products and services that it should try to cross-sell to its customers. The number of new customers joining the bank had reduced due to a general economic slowdown, primarily caused by fewer customers switching providers. Management decided that effective cross-selling was the key to increasing revenues. In the past, there had been continuous attempts at cross-selling. Most of these attempts were supported by some form of analysis, but the success rate of the customer campaigns to cross-sell had been lower than expected. Management wanted to take a comprehensive approach, and rely on multiple strategies and methodologies, if necessary, to drive cross-selling. To understand customer purchase behavior, MBA was proposed as one of the analysis methodologies.
By conducting the analysis, management wanted to explore the affinity...
