An additional example from the same environment referenced last week. The same team of strategic consultants created a recommendation / lead generation algorithm that was intended for the customer service representatives to use to increase share of wallet by cross selling related products to appropriately identified target customers. The challenge: The recommendation engine only consumed…
One of the challenges is that the role that data plays in supporting various business goals is overlooked or ignored. In one environment, our client was looking to increase market share through enhanced customer analytics and segmentation. A leading international consulting company was engaged, at a cost reported to run into millions of dollars, to…
The inaugural Insurance Industry Summit will kick off in Johannesburg in just over a month. With streams covering Distribution, Risk and Digital Mobility data is one of the key themes. In South Africa , our insurance industry clients are struggling with architecture renewal programs. The shift from product to customer-centric architectures is necessary not just…
Domestic systemically important banks have less than a year to comply with the principles of Regulation 39 of the Regulations relating to Banks. (BCBS 239) The Principles aim to strengthen bank’s risk management practices by improving their risk data aggregation and reporting. At the time of writing, global systemically important banks should have already complied.…
