End-of-Chapter Application Case
BBVA Seamlessly Monitors and Improves its Online Reputation sh is
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m BBVA is a global group that offers individual and corporate customers a
comprehensive range of financial and non-financial products and services. It enjoys a
solid leadership position in the Spanish market, where it first began its activities over
150 years ago. It also has a leading franchise in South America? it is the largest
financial institution in Mexico? one of the 15 largest U.S. commercial banks and one of
the few large international groups operating in China and Turkey. BBVA employs
approximately 104,000 people in over 30 countries around the world, and has more
than 47 million customers and 900,000 shareholders.
Looking for tools to reduce reputational risks BBVA is interested in knowing what existing clients—and possible new ones—think
about it through social media. Therefore, the bank has implemented an automated
consumer insight solution to monitor and measure the impact of brand perception
online—whether this be customer comments on social media sites (Twitter, Facebook,
forums, blogs, etc.), the voices of experts in online articles about BBVA and its
competitors, or references to BBVA on news sites—to detect possible risks to its
reputation or to possible business opportunities. Th Insights derived from this analytical tool give BBVA the opportunity to address
reputational challenges and continue to build on positive opinions. For example, the
bank can now respond to negative (or positive) brand perception by focusing its
communication strategies on particular Internet sites, countering—or backing up—the
most outspoken authors on Twitter, boards and blogs.
Finding a way forward In 2009, BBVA began monitoring the web with an IBM social media research asset
called Corporate Brand Reputation Analysis (COBRA), as a pilot between IBM and the
bank’s Innovation department. This pilot proved highly successful for different areas of
the bank, including the Communications, Brand & Reputation, Corporate Social
Responsibility, Consumer Insight, and Online Banking departments. https://www.coursehero.com/file/21845729/End-of-chapter-BBVApdf/ sh is
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m The BBVA Communication department then decided to tackle a new project, deploying
a single tool that would enable the entire group to analyze online mentions of BBVA
and monitor the bank’s brand perception in various online communities. The bank
decided to implement IBM Cognos Consumer Insight to unify all its branches worldwide
and allow them to use the same samples, models, and taxonomies. IBM Global
Business Services is currently helping the bank to implement the solution, as well as
design the focus of the analysis adapted to each country’s requirements. IBM Cognos
Consumer Insight will allow BBVA to monitor the voices of current and potential clients
on social media websites such as Twitter, Facebook and message boards, identify
expert opinions about BBVA and its competitors on blogs, and control the presence of
the bank in news channels to gain insights and detect possible reputational risks. All
this new information will be distributed among the business departments of BBVA,
enabling the bank to take a holistic view across all areas of its business.
Seamless focus on online reputation
The solution has now been rolled out in Spain, and BBVA’s Online Communications
team is already seeing its benefits.
“Huge amounts of data are being posted on Twitter every day, which makes it a great
source of information for us,” states the Online Communications Department of this
bank. “To make effective use of this resource, we needed to find a way to capture,
store and analyze the data in a better, faster and more detailed fashion. We believe
that IBM Cognos Consumer Insight will help us to differentiate and categorize all the
data we collect according to pre-established criteria, such as author, date, country and
subject. This enables us to focus only on comments and news items that are actually
relevant, whether in a positive, negative or neutral sense.” Th The content of the comments is subsequently analyzed using custom Spanish and
English dictionaries, in order to identify whether the sentiments expressed are positive
or negative. “What is great about this solution is that it helps us to focus our actions on
the most important topics of online discussions and immediately plan the correct and
most suitable reaction,” adds the Department, “By building on what we accomplished in
the initial COBRA project, the new solution enables BBVA to seamlessly monitor
comments and postings, improve its decision-making processes, and thereby
strengthen its online reputation.” “When BBVA detects a negative comment, a
reputational risk arises,” explains Miguel Iza Moreno, https://www.coursehero.com/file/21845729/End-of-chapter-BBVApdf/ sh is
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m Business Analytics and Optimization Consultant at IBM Global Business Services.
“Cognos Consumer Insight provides a reporting system which identifies the origin of a
negative statement and BBVA sets up an internal protocol to decide how to react. This
can happen through press releases, direct communication with users or, in some
cases, no action is deemed to be required? the solution also highlights those cases in
which the negative comment is considered ‘irrelevant’ or ‘harmless’. The same
procedure applies to positive comments—the solution allows the bank to follow a
standard and structured process, which, based on positive insights, en-ables it to
strengthen its reputation. “Following the successful deployment in Spain, BBVA will be
able to easily replicate the Cognos Consumer Insight solution in other countries,
providing a single solution that will help to consolidate and reaffirm the bank’s
reputation management strategy,” says the Department.
Tangible Results Starting with the COBRA pilot project, the solution delivered visible benefits during the
first half of 2011. Positive feedback about the company increased by more than one
percent while negative feedback was reduced by 1.5 percent—suggesting that
hundreds of customers and stakeholders across Spain are already enjoying a more
satisfying experience from BBVA. Moreover, global monitoring improved, providing
greater reliability when comparing results between branches and countries. Similar
benefits are expected from the Cognos Consumer Insight project, and the initial results
are expected shortly. Th “BBVA is already seeing a remarkable improvement in the way that information is
gathered and analyzed, which we are sure will translate into the same kind of tangible
benefits we saw from the COBRA pilot project,” states the bank, “For the time being, we
have already achieved what we needed the most: a single tool which unifies the online
measuring of our business strategies, enabling more detailed, structured and controlled
online data analysis.”
Questions for the End-of-Chapter Application Case 1. How did BBVA use text mining?
2. What were BBVA’s challenges? How did BBVA overcome them with text mining
and social media analysis? https://www.coursehero.com/file/21845729/End-of-chapter-BBVApdf/ 3. In what other areas, in your opinion, can BBVA use text mining?
Source: IBM Customer Success Story, “BBVA seamlessly monitors and improves its online reputation” at
http://www-01.ibm.com/software/ success/cssdb.nsf/CS/STRD-8NUD29?OpenDocument&Site=corp&cty=en_us (accessed August Th sh is
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m 2013). https://www.coursehero.com/file/21845729/End-of-chapter-BBVApdf/ Powered by TCPDF (www.tcpdf.org)
