Insights to the Product Strategy Team in the Banking Domain
Project Overview: Mitron Bank, a legacy financial giant, aims to expand its product range and market presence through innovative credit cards. AtliQ Data Services is on board, ready to analyze a sample dataset of 4000 customers across five cities, providing crucial insights to shape the credit card strategy.
Role and Challenge: I, Peter Pandey, a data analyst at AtliQ Data Services, have been entrusted with this pivotal role. My mission is to analyze the sample data, generate actionable insights, and present a compelling case to Mitron Bank's strategy team, led by the discerning Mr. Bashnir Rover. Success hinges on delivering data-driven recommendations that resonate with their vision.
Customer Insights: Majority are "Salaried IT Employees" (1294). Dominant age group: "25-34" (1498). Top city: "Mumbai" (1078). "Business Owners" have the highest average income. "25-34" age group engages in the most transactions. "Bills" show the highest income utilization %.
Spending Insights: "Credit Card" transactions consistently have high income utilization %. "Salaried IT Employees" lead in income utilization %. "Mumbai" customers exhibit the highest income utilization %. Varied spending patterns across demographics. "Business Owners" exhibit the highest average spending.
Key Metrics: "Credit Card" users show the highest income utilization %. "Mumbai" customers lead in average spending. "Business Owners" top in average income, spending, and income utilization %.
Credit Card Feature Recommendations: Targeted rewards for high-spend categories. Partnerships with electronic retailers. Customizable credit limits based on occupation. Incentives for UPI usage. City-specific benefits and demographics-based features.
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