what bank's can learn from startup's about data
TRANSCRIPT
WHAT BANK’S CAN LEARN
FROM STARTUPS ABOUT DATA?
@amanwhotweets
Being Big was once an advantage for Bank’s when it came to Data.
But Data got Bigger with more Volume
Source: PWC FS ViewPoint
And even Bigger with increased Velocity
Source: PWC FS ViewPoint
And almost inconceivably Huge with more Variety
Source: PWC FS ViewPoint
BANKS
STARTUPS
Yet companies much smaller than Bank’s in our universe and are doing better job...
ACCESS
For two reasons.
INSIGHT
Better Access.
1. Reduced Costs
2. Disruptive Technologies
3. More Scalable
Deeper Insights.
1. Output oriented
2. Fact based decisioning
3. Unconstrained by Data Ownership
Three thing’s Bank’s can do to help themselves
Reap what you sow.Be disciplined in what data you collect, analyze,
discard and distribute.
Experts often possess more data than judgment.Colin Powell
It’s a journey not a destination.Be mission not task oriented in your data journey.
The journey is the reward.Steve Jobs
Three thing’s Bank’s can do to help themselves
Three thing’s Bank’s can do to help themselves
Collaborate as you consume.Driving great insight requires great teamwork with
partners and a ‘data ecosystem’
If you want to go fast go alone. If you want to go far go together.African Proverb
THANK YOU@amanwhotweets