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Data Science and Analytics |
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ISchool 296A Spring 2012 |
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Fun with Numbers: Applied Economics in Retail Banking Gary W. Class Senior Vice President Wells Fargo
Abstract Decision-making in Retail Banking can be improved by the application of Management Science, most notably the development & deployment of econometric models enabled by information management technology. In this talk, I will provide an overview of the challenges of "harvesting" the proliferation of enterprise data, including structured (administrative & accounting), semi-structured (weblogs & systems logs) & unstructured (text, speech, image) data all while exercising due care in compliance with governing law & regulation. Leveraging a research & development framework informed by Behavioral Economics, Marketing Science & Operations Research, will we review case studies including: branch & ATM location site selection, branch teller staffing & scheduling, & database marketing execution in multiple sales channels. Throughout the discussion, I will highlight the importance of leveraging academic research and collaborating with emerging technology providers to address many of the most challenging issues in strategic planning for Retail Banking.
Bio-sketch In his work with the wellsfargo.com management team, Mr. Class is responsible for strategic business analysis around the online base of financial service customers. He analyzes customer preferences and behaviors to help Wells Fargo respond to customers banking needs and develop new financial services that can be accessed anytime, anywhere. Key successes include bank-wide adoption of customer-centric cross-sell potential and probability of attrition risk models. Prior to joining wellsfargo.com, Mr. Class was responsible for Branch & ATM location planning & analysis throughout the Wells Fargo franchise. Mr. Class played a lead role in the development of Wells Fargo innovative branch delivery strategy, including the supermarket banking program and specialized branch formats. In addition, Mr. Class was responsible for development of branch staffing & scheduling applications as well as branch-based database marketing and lead delivery tools. Mr. Class received his MBA from Haas School, University of California, Berkeley and his B.A. cum laude from the University of Pennsylvania. |
