Date post: | 18-Feb-2017 |
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SINK OR SWIM IN BIG DATA
NEW POSSIBILITIES FOR FINANCIAL PROFESSIONALS AND EMPOWERMENT OF COMMUNITIES
Andrew Garrett
Director Development Analytics
What is Big Data? What’s New?
Variety
Velocity
Volume
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
Journey of 1000 Shoppers
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
On-line Browse
Parking & Path
Apps
• 80% Mall Directory
• 10% Map
• 1% Ordered Gift Card
• 54% Clicked on Women’s Apparel
• 33% West lot
• 65% Entrance 7
• Avg. Apple visitor, 20% P( ) they visit Starbucks
• 10% have Disney app on phone
• 3% have Twitter post with negative comment about the mall
Journey of 1000 Financial Professionals
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
Sector
Advancement
Network Weighting
•27% Insurance
•50% Wealth Management
•10% Real Estate
•54% Accounting / Other
•33% Title Change
•65% Left sector
•24% Retention rate in Insurance
•Endorsements by VP correlated with promotion in 2yrs
•10% have linked to Directors within own firm
•3% underemployed. CPA holders, leaving sector
Journey of 1000 Underbanked Minorities
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
Networth
Advancement
Financial Products
• $25K avg. HHI
• $50 avg. interest fees
• 17% Denied Credit
• 33% Checked local Trust Co.
• 65% built >$1000 savings due to auto saving deduction
• 24% Retention rate in Insurance
• 10% Used mobile app
• 3% denied Credit
• 43% offered high interest rate credit card
Simple, Novel, Unstructured problems
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
Google Cat Recognition Software:
o Human Baby can ID a million cats having only seen one
o Big Data, google vision needs to scan and ‘see’ a million cats to try to ID one
Financial Professionals:
A Catalyst For Change
D E V E L O P M E N T S E N I O R L E A D E R S H I P 2 0 1 4
Public Sector Data • Federal Spending • Demographic • Underserved Areas
Private Sector Data • Linkedin • Annual reports • C-Suite & Board Profiles
Individual & Assoc. Data • UFSC, NUL, • Workshops • University’s
Data Ware-house
Data Mining and Analysis
New Solutions to Old Problems: • Career
Advancement • Company Profits • Community
Empowerment