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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
What is a Petabyte? Zettabyte?
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
Tyson’s Galleria, McLean, VA
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
Typical Shopper Profile
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
Spurious Correlations
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
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
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

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Big Data Presentation Mar 2015 Washington Summit

  • 1. SINK OR SWIM IN BIG DATA NEW POSSIBILITIES FOR FINANCIAL PROFESSIONALS AND EMPOWERMENT OF COMMUNITIES Andrew Garrett Director Development Analytics
  • 2. 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
  • 3. What is a Petabyte? Zettabyte? 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
  • 4. Tyson’s Galleria, McLean, VA 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
  • 5. Typical Shopper Profile 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
  • 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
  • 10. Spurious Correlations 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
  • 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