IBMMS Decision Support Tool For Management of Bank Telemarketing Campaigns

TL;DR

This paper introduces IBMMS, an intelligent decision support system combining data mining and expert systems to help bank managers effectively organize and manage long-term deposit marketing campaigns, improving customer targeting and response.

Contribution

It presents the first system integrating data mining with expert systems for bank marketing management, enhancing decision-making capabilities.

Findings

IBMMS enables effective campaign management and customer response prediction.

The system improves decision accuracy for bank marketing strategies.

It combines knowledge base, inference engine, and advisor features.

Abstract

Although direct marketing is a good method for banks to utilize in the face of global competition and the financial crisis, it has been shown to exhibit poor performance. However, there are some drawbacks to direct campaigns, such as those related to improving the negative attributes that customers ascribe to banks. To overcome these problems, attractive long-term deposit campaigns should be organized and managed more effectively. The aim of this study is to develop an Intelligent Bank Market Management System (IBMMS) for bank managers who want to manage efficient marketing campaigns. IBMMS is the first system developed by combining the power of data mining with the capabilities of expert systems in this area. Moreover, IBMMS includes important features that enable it to be intelligent: a knowledge base, an inference engine and an advisor. Using this system, a manager can successfully direct marketing campaigns and follow the decision schemas of customers both as individuals and as a group; moreover, a manager can make decisions that lead to the desired response by customers.