agile data management strategies for profitability
Post on 25-Apr-2022
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Perceived impact of AI on pro�tability
Use AI to Gain Faster, Better Business Insights
AI helps all stakeholders see the big picture so they don’t underestimate risk and miss out on revenue-generating insights.
Rely on Complete, High-Quality Data to Drive Insights
The agility to permeate data siloes and unlock new data sources improves the accuracy of AI insights.
Support IT Agility to Drive Competitive Advantage
Agile and innovative data management strategies help �rms meet security demands, gain client insights and attain next-level business intelligence.
Make Insights Accessible to Improve Decision MakingWidely accessible yet secure data-driven insight capabilities equip decision makers with competitive agility.
1.5x FasterRevenue Growth With AIAsset managers embracing big data and analytics are growing revenue 1.5 times more quickly than the rest of �nancial services.
Data source: Global survey of 151 �nancial services �rms by World Economic Forum (WEF) and University of Cambridge Judge Business School, January 2020
Data source: Global survey of 151 �nancial services �rms by World Economic Forum (WEF) and University of Cambridge Judge Business School, January 2020
Exhibit 1: The use of AI exerts a positive impact on a �rm’s pro�tability
AI implementation hurdles by �nancial sector
Simplify Data Discovery and Analytics to Understand Customer Needs
Innovative data strategies help leading �nancial institutions derive value well beyond regulatory compliance.
Key Challenges in Implementing Customer Experience IT Strategy in Banking
37% Managing and synchronizing multiple channels and breaking down data silos
36% Gathering and selecting useful data from existing and new data sources
Access to data 52% 31% 17% 34%
Investment Management
Market Infrastructures & Professional Services
Payments
Deposits & Lending
ApplicationAgility
InfrastructureAgility
DataAgility
Competitive Advantages of IT Agility
- Reduce the total cost of compliance- Support digital transformation- Empower all business users to better
understand their customer- Monetize data-driven insights- Embrace new ways of working
Increase
58%Decrease
17%
No Change
25%
Data source: TABB Group survey, >100 �nancial institutions, 2018
Importance of ‘unstructured’ data sources in AI applications (scale 0-3)
Documents CRM Data (Call Notes)
News/Premium Data Sources
Knowledge Bases
Core Banking Systems
E-mails Social Media
3
2.5
2
1.5
1
0.5
0
3
2.5
2
1.5
1
0.5
0
Explore the Research:Achieve Competitive Agility with Innovative Data Management Strategies
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Pace October 2021
Agile Data Management Strategies for ProfitabilityFuel pro�tability and digital maturity with innovative data management strategies.
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