In response to this, Jane Crossan, vice-president and practice leader for the Financial Service Group, points out that Claritas's overriding objective typically is to get corporations to adopt some coordination and consistency among departments, which tend to name and slice differently.
"The Prizm system, with it's colorful and personifying naming conventions," says Crossan
, "can be a good way to put a face on customers, but it is only a starting point."P$ychle, aimed at the financial services industry, is a household-level system, she
doesDan Thorpe buys into "building on limited objectives" to gain insight, expertise, and prowess.He is a senior vice-president and statistics and modeling director of Wachovia's Customer Analysis Research and Targeting (CART) Group, and an all- around analytics expert.
When asked about segmentation and why it is complicated, Thorpe answered in terms of coping with divergent geographic markets and complex product sets.
The modeler and analyst, who does research that supports product and segment managers throughout the Wachovia network, admits he
, personally, is so "into the data," that it can be a challenge to pull back from the technical aspects of the discipline to easily communicate why certain data sets are valuable in broader strategic terms.He
and line-of-business executives and segment pros spend a lot of time making those links and making sure the right information is being scoped out and applied correctly.
Instead of discussing specific projects in detail, Thorpe spoke generally about efforts to pin down household patterns of product use.When asked to identify some segments that Wachovia
finds meaningful, Thorpe says, overall, he
tends to break the financial services giant down into mass market vs. high net worth market.He
defines segments for the firm as 1.