Big Data & Digital Marketing
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Big Data & Digital Marketing
Big Data
Data analytics as the key to know your customers and offer them what they really want.
Curated by Luca Naso
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Current selected tag: 'Industry: Finance'. Clear
Industry: Finance 3
Company: HSBC 1
Data Driven Business 1
Industry: Banking 1
Know Your Customer 1
Monetizing Big Data 1
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The Importance Of Big Data In International Banking

The Importance Of Big Data In International Banking | Big Data & Digital Marketing | Scoop.it
From worldoffshorebanks.com - November 19, 2015 12:19 PM
Big Data is the new buzzword as far as mass operations, iterations and manipulations are concerned. The data becomes an asset that requires cost-effective innovations ...
Luca Naso's insight:

How is Big Data changing the banks business? And how this can add value for customers?


Today it is imperative to use machine learning for detecting frauds and mitigating risks. The next step should be solidifying the relationship with clients, by offering what they really need, not what the bank wants to sell.

 

The 6 uses of Big Data in banking

1. Increase efficiency - shorten the time to get information from db

2. Reduce cost - in maintaining the data infrastructure

3. Prevent fraud - self-evident

4. Accountability - better evaluation of clients' risk

5. New revenue streams - the more you know the more you can offer

6. Client satisfaction - by offering a better customer experience

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Medellinfurniture's comment, October 9, 2022 11:57 AM
good
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Big Data financial news company raises $1.25 million

Big Data financial news company raises $1.25 million | Big Data & Digital Marketing | Scoop.it
From www.bizjournals.com - July 24, 2013 11:59 AM
Big data financial info company raises $1.25 million
Luca Naso's insight:

Minetta Brook is creating a product that combines news and financial data to provide real-time, relevant information for financial traders and analysts.


For this they get $1.25 million, and counting.


As I always say, Integration and Real Time are key features of Big Data applications.

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How Data Analysis Impoved HSBC

How Data Analysis Impoved HSBC | Big Data & Digital Marketing | Scoop.it
From www.enterpriseappstoday.com - December 29, 2014 9:00 AM

Financial institutions use data analytics to improve their omni-channel marketing strategies, by focusing on what a financial institution can do with data analytics, not on what data analytics itself can do.

Luca Naso's insight:

Marketing has been called more of an art than a science. Yet in today’s financial services environment, the science of analytics is critical in making marketing a profit centre.

 

HSBC is one of the world’s largest banks and it uses data-driven decision making to optimize channel usage.

 

Combining the data from channel analytics with information about when to contact a customer and what to contact them about has helped the bank acquire new customers, enhance existing customer relationships and retain profitable customers over the long term.

 

The channel-centric model that most financial services companies continue to pursue today results in too much siloed information and an inability to develop true omni-channel strategies.

 

Data analysis should be used to develop a customer decision hub, which determines the minimum and maximum that you will spend to service a customer in each channel, the best moment in time to communicate with the customer and the best interaction with the customer at the best moment in time.

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