This fall, Cognito brought together some of the industry’s most innovative and data-savvy marketers to provide insights in to how financial services companies are currently using big data to help drive their business forward and influence the bottom line.
Our panel included Tom Coombes, CEO, Cognito; Michael Leinweber, Head of Digital Marketing, Americas, Schroders Investments and Mike Marinello, Head of Global Communications, Bloomberg Financial Products and Services.
Throughout this hour-long interactive session, our panelists presented some of their experiences with big data inside dynamic organizations and share tips on how their peers can start using data to drive more powerful strategies for 2014 and beyond.
Below are some key takeaways and helpful tips that can help you utilize big data effectively:
- Using data to drive decisions is becoming more and more prevalent in financial services.
- Marketing and Communications professionals have a large amount of data available at any time and it is perpetually increasing
- Using data effectively can help support marketing and communications teams, improve efficiencies and reduce costs.
- Most people don’t know what information they need or how to use it – designing an end plan helps to sift through for the important data points
- A large number of executives believe they miss sales opportunities because they can’t keep up with all the data.
- It’s too complicated to identify data that can be used across disciplines and to upsell.
- Start small, use data you already have available.
- Keep it easy at first, then add external data and tools as you feel comfortable.
- Set KPI’s and measurable goals – think about what you want the data to do for you in the long run.
- Have fun with it – it can help your business and YOU grow. Don’t be afraid to ask around, people are willing to share ideas, and maybe even data!
In short, the age of big data is here and learning how to use it further promote your business objectives, is key. It may seem daunting at first, but start small and figure out what you want to achieve... The data can help you get there.