Financial Consumer Analysis Project

The objectives of the analytical project are as follows:

Identify and analyze yearly complaint trends to understand the overall complaint volume and patterns over time.

Determine the top issues responsible for consumer complaints to prioritize problem areas for improvement.

Explore monthly complaint trends to identify any seasonality or recurring patterns.

Analyze complaints by mode of submission to understand customer preferences and improve service channels.

Evaluate complaints by states to identify geographical areas with a higher concentration of issues and tailor regional strategies.

Examine complaints by issues and sub-issues to gain insights into specific pain points and improve product and service offerings.

Analyze complaints by products and sub-products to identify areas requiring enhancements or modifications.

Business Needs: This analytical solution helped the financial institution achieve the following business needs:

Enhance customer service by identifying and addressing the root causes of complaints.

Develop strategies to improve customer satisfaction, retention, and loyalty.

Identify areas for product and service improvements or innovations.

Ensure regulatory compliance and address any compliance-related issues.

Protect the institution's reputation by promptly resolving customer grievances.

Discovery and Presentation of Insights: Meaningful insights from this project was discovered and presented through a systematic analysis approach. The process includes the following steps:

Data collection: Gathered comprehensive consumer complaints data from relevant sources, ensuring data integrity and accuracy.

Data cleaning and preprocessing: Cleansed and preprocessed the data to remove duplicates, handled missing values and standardized formats.

Exploratory data analysis: Conducted exploratory analysis to understand the overall data distribution, identify outliers and uncover initial patterns.

Trend analysis: Utilized time series analysis techniques to identify yearly and monthly complaint trends, allowing for trend visualization and interpretation.

Categorization and grouping: Categorized complaints based on mode of submission, states, issues, sub-issues, products and sub-products to enable granular analysis.

Statistical analysis: Applied statistical methods such as frequency analysis and correlation analysis to gain insights into complaint distributions and relationships between variables.

Data visualization: Utilized visualizations such as charts, graphs and maps to effectively present the discovered insights and facilitate better understanding.

Interpretation and reporting: Provided clear and concise interpretations of the findings, highlighting key insights, trends and areas for improvement. I present the findings in a comprehensive report or interactive dashboard format for easy consumption by stakeholders.

Result: This analytical project helped the company uncover valuable insights which drove strategic decision-making, process improvements and ultimately enhance customer satisfaction and business performance within the financial institution.