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Why Smart Companies Are Giving Customers More Data
book

Why Smart Companies Are Giving Customers More Data

by Barbara H. Wixom, Ronny M. Schüritz, Killian Farrell
May 2020
Beginner to intermediate content levelBeginner to intermediate
7 pages
13m
English
MIT Sloan Management Review
Content preview from Why Smart Companies Are Giving Customers More Data

Why Smart Companies Are Giving Customers More Data

Companies are discovering the benefits of data wrapping — packaging their products with data analytics features and experiences that delight customers and increase profitability.

In 2016, Spanish banking group BBVA offered to its Spain-based customers a personal finance management app. One of the app’s tools used machine learning algorithms to sort customer transactions into common budgeting categories such as rent, food, and entertainment, and then it displayed a customer’s expenditures broken down as a simple chart. BBVA promoted the categorizer on its digital banking website as a way for customers to better manage their ...

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Publisher Resources

ISBN: 53863MIT61425