The document discusses how big data and data analytics can provide new opportunities for financial professionals and empower underserved communities. It describes how analyzing large amounts of public, private and individual data can provide insights into typical customer profiles, career paths, and community needs. With data mining and analysis, new solutions can be developed to address challenges around career advancement, business profits, and community empowerment.
6. 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
7. 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
8. 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
9. 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
11. Privacy Concerns / Legislation
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
12. 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