Capital One Case Study Essay

1. What is with child(p) whizs business and who are their competitors? superior Ones business deals with a bank financial t sufficient service company. They specialize specifically in banking, credit cards, home loans, auto loans and savings products. Capital One was founded by Richard Fairbank and Nigel Morris in 1988. Fairbank exceedingly foc utilizationd on the marketing and customization of credit card use and breeding. The company is very uninflected and is very technological when gathering entropy training. They were basically sick unitedly centering around the mentation of engineering science within the company itself. nigh of their direct competitors would be against Bank Of America, Ameri faeces Express and Barclays bank. 2. What is their scheme to grow profitably and compete? Give examples.Capital One was put together with engine room right at the core of their business. This solves them different from their competitors since closely other companies had a b usiness model first before technology was either involved. The technological part of their company is very important since they use it to snap and hatch their guests characteristics such as credit risk. This is basically their carriage of improving customer service and to increase profitability. Fairbank developed a data machine that was able to access a customer risk actor from each product as well as detect fraud. At Capital Ones excite of inception, the online communication was making its musical mode in our society so the company focused on highly internet marketing. This strategic action lead to 2.5 millions customers signing up as this online banking corpses was the new and improved way to make payments.3. How do they use education to implement their outline? What kinds of training do they use and where does it come from?They vastly use their information system and technology to help during day to day activities. Their main use of this information is to analyze c ustomerdata and make appropriate suggestions and choices regarding their marketing strategy. They implement many essays and have used their judgement of diving up their customer population by segmenting their data. This was a succeeder and was a high profit for enceinte one.This lead to their improvement of customer relationships since they had vast information of them and had technology that could easily access and identify their customers through with(predicate) a digital fingerprint. This company focuses on personal information from their customer base to make decisions and access which one of them will be able to pay them back after a loan. One of the ways capital one has access this information is through the post offices file and other checking agencies as well. Capital one basically takes information from any pertinent source that can provide then with sure data.4. List and describe the information technologies used to oblige their strategy?Information-establish strate gy company focuses on high credit risklow credit risk this helps them comprehend their customers data and to make sure that their choices are do with those people who are actually going to pay them back their information-based system collects and analyzes the information which helps them market to their customers as it attracts various aspects of customers needsData Warehouse & Mining Infrastructure this is to support their information based system while having shared communication between different branches Their offices in UK and US can have clearly make accurate decisions since they can both have access to each others databaseTrillium Software This software product analyzes their customer data with such intelligence that it is used to help them with concluding decision making It is also used for customer service support5. Describe their notion of a scientific test. Contrast this forward motion to product development and launch with a more traditional approach that a manuf acturing company might use.Capital Ones scientific test was used with their software to collect test data information while enhancing the data they already had as well. They used this software to analyze and collect information from potential customers. They conducted over 45,000 tests at one point which helped them comprehend customer information while identifying any fraudulent exercise as well. They grew every day and had millions of customer signed up online at the end. Capital One had a great relationship with their IT department since technology was part of its core competencies. Fairbank even allowed anyone to propose an idea for a test if it was profitable looking enough. This showed that the company wanted to involve each and every employee to work with them on their marketing strategy.The process for product development occurs when an idea is started, to the design and then with the actual product being manufactured and engineered. Capital One way of working with this pro cess involves having their marketers research and access the information and data to understand their customers tendencies and preferences. A more traditional approach that a manufacturing company may use is having Capital One is started with a unbending business model and then having to computerize it later on. Everything is first manually done and analyzed in this case. The technology and use of software would be used later on in terms of Capital Ones informational strategies.