Capital One 1996 Annual Report Download - page 10

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The Information-
Based Strategy
8
Capital One began with a
strategic vision: clear,
dynamic, inexorable. We saw that
the technology and information
revolution had transformed the
credit card business into an
information business. One that
is extraordinarily data-rich, allow-
ing the capture of information on
every customer interaction and
transaction. With this information,
we can conduct scientific tests;
build actuarially-based models
of consumer behavior; and tailor
products, pricing, credit lines and
account management to meet the
individual needs and wants of
each customer. By exploiting this
insight, we have transformed the
one-size-fits-all credit card indus-
try and created one of the fastest-
growing companies in America.
Because our strategy is informa-
tion-based, not product-based, we
are in an excellent position to ride
the macro trend of the information
revolution and apply our strategy
to other industries as they too are
reshaped by information.