Even as banks are attracted to the marketing possibilities of Big Data, they should not overlook the value of their own customer data, which is more readily accessible.
Count us as big fans of Big Data. The power of today’s advanced analytics to deliver nuanced insights for driving revenue is undeniable and well worth the attention and investment involved.
But don’t overlook what we will call “Plain Data.” In plain sight, within easy reach of your knowledge workers, all around your bank are caches of reliable customer data the meaning of which is plain but which rarely gets put to use in service of your highest priority – bringing more value to customers.
Read more at BAI Banking Strategies