July 21, 2008 - As the world’s largest credit union and serving the needs of all Department of the Defense (DOD) military and civilian personnel and their families, Navy Federal has a very large clientele to please. It invested in predictive analytics software from SPSS Inc. to clearly and specifically understand the needs of its customers.


Navy Federal uses SPSS predictive analytics software to create a one-to-one relationship with its nearly 3 million members and thus increase overall customer understanding, improve satisfaction and reduce member churn.


To effectively understand how the organization could better serve members, Navy Federal reached out individually to its membership to obtain key information. The credit union created a satisfaction survey with indicators related to overall corporate satisfaction, product and channel satisfaction, general member usage, competitive information and special interest surveys on product and service issues.


Navy Federal then used SPSS predictive analytics technology to analyze the survey data, seeking hidden variables or patterns that could be used in creating specific programs to maximize member satisfaction. The results identified a need to enhance bill payment methods, increase the size of the credit union’s call centers and expand the branch office network.


This analysis lead Navy Federal to proactively add free online bill payments, expand its call center, develop additional checking products tailored to specific groups of members and invest capital to build new branch offices.


“SPSS has unlocked the value of our data with technology to identify how we can best serve, grow and expand our memberships,” said Alan Payne, manager of member research and analysis at Navy Federal Credit Union. “Our organization has a greater ability to spot trends and changes immediately – resulting in improved response time to our members.”

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