How is SELLEA both generic and tailored?
SELLEA is generic enough for quick deployment and tailored enough to provide each bank with unique selection criteria and target-lists which best suit its client-base
This uniqueness is achieved through multiple embedded calibrations of model parameters which are based on availability and completeness of bank’s data and profile of bank’s client base
System set-up activities are used to define input data configuration which is then entered into the system for further calibrations
To best explain the concept of how SELLEA is tailored, we will illustrate the system set-up through a parallel example of buying a suit, a comparison we found the most appropriate given the origins of the word ‘tailoring’.
The first decision that one faces upon deciding to buy a new suit is whether to have one made by a tailor or purchase an already made one. A decision often based on individual preference, but with some very different considerations that are made depending on the selected approach.
Though a tailor-made suit should by-definition assure the best possible fit, a person that hasn’t worn suits for at least several years would rarely select a tailor-made option as some form of ‘experience’ is required in assessing tailor’s advice on choosing of a fabric, the cut that would best fit the individual and, of course, the style of the suit that best matches the person’s shape, personality and the desired appearance.
For the ‘less-experienced’, the safer option would be a choice of ready-made suits where a variety of cuts, styles and materials can be picked off the rack, tried on for size and fit, discarded if not liked… until the final selection is made and the suit is purchased. In addition to selecting the appropriate cut and a size, some tailoring such as shortening of sleeves or pants is still required.
It is also a common practise for those who usually tailor their suits to periodically opt for a ready-made suit as a form of exploration or a test when trying out a new design, colour or a different style. The purchase and wear being either the break from the routine or assurance that they liked the change before taking the new suit to their regular tailor as a form of instruction how they would like their new suits to look.
Whilst we created SELLEA as a set of ready-made suits (Sales Objectives, i.e. Term Deposits, Cash Loans, Credit Cards…), we also understood that everybody can not fit into the same size, that cuts will be different and most importantly - that the same suit cannot be worn in both cold and warm climates.
For this reason we have introduced the concept of SELLEA Set-up, or a process of measurement and fitting to bank’s size and shape.
This process of measurement and fitting is described below:
Business definition of input data is explained by TrimTab and agreed upon with the bank (i.e. what should we consider Term Deposits: all deposits with defined maturity or only those with defined early-withdrawal penalties? do we include Saving Plans, Step-Savings and similar products, what about over-night deposits and sweeping entries?),
Options for attainment of required data are assessed and interpretations are defined (i.e. we cannot provide the average balances on Saving Plans, but we can provide end-of-month balances), available definitions are compared to required definitions and correction weight parameters for usage of provided data fields are configured (i.e. we obtained the exact information which we sought on client tenure and therefore will use this information in full; we didn’t get the exact information regarding average balances on Saving Plan, but we have end-of-month balances – this information will not be disregarded, but it’s weight in decision process will be lowered).
As a result of this data definition exercise the Input Data is produced in such a manner to indicate to the system the reliability of a particular field. The system will read the Input Data and decide which weight to assign to each field, depending on its granularity and interval.