The Banking Brand Data Intelligence Report 2016 - Understanding the customer experience
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Transcript of The Banking Brand Data Intelligence Report 2016 - Understanding the customer experience
The Banking Brand Data Intelligence Report
2016
Understanding
theCustomer
Experiencewe’re
doing things
differently
powered
by
BIG DATA is
Dead
What is big
data?
“Big data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and processautomation.”
gartner.co
m
Our definition of Big
DataVery large sets of structuredand unstructured data that arerarely used to create businessinsights.*
*mostly it’s just additional cost for no
value
Where are we
now?
The number of organisations that have already invested in bigdata.
$65,000,000The additional net income that could be realised by the
average Fortune 1000 company with just a 10% increase in data
accessibility.
The amount of data that is currently analysed andused.
The way it should
be
Deep Learning
Predictive &Discovery
Analytics & Visualisation
Collectio
n
Collectio
n6,000Tweets sent everysecond
293,000Facebook status updates everyminute
100
billionGoogle queries searched everymonth
4.66
billionweb pages online right
now
All businesses now have the ability to collect almost limitless data; storage is a commodity and databases can hold and reporton that data
It’s not uncommon for even small businesses tocollect terabytes of data, unheard of just 5 yearsago
Analytics &
VisualisationIt’s relatively easy for businesses to construct“vanity” metrics and prettycharts on the data points- number of times my brand ismentioned, etc. Very few ofthese actually provide any trueinsight
The great failure of existing analytics is that it rarely provides insight…the analysis resulting from all that data wecollect still requires real
thought in orderto create understanding
The
future?
Prediction &
DiscoveryPredictive Analytics - the future ishere...
AND WE’RE PREDICTING IT RIGHT
NOW.
We have enlisted the help of some of the world’sfinest minds from The University of Sheffield
Department of Computer Science to develop aunique algorithm…
…now
working for
the financial
services
industry,
coding vast
volumes of
real-time
commentar
y.
