Companies make these data easily accessible to their decision makers. Analysts can “mine” the
data and garner fresh insights into neglected customer segments, recent customer trends, and other
useful information. Managers can cross-tabulate customer information with product and salesperson
information to yield still-deeper insights. Using in-house technology,Wells Fargo can track
and analyze every bank transaction made by its 10 million retail customers—whether at ATMs, at
bank branches, or online.When it combines transaction data with personal information provided
by customers, Wells Fargo can come up with targeted offerings to coincide with a customer’s lifechanging
event. As a result, compared with the industry average of 2.2 products per customer,Wells
Fargo sells 4 products.7 Best Buy is also taking advantage of these new rich databases.