Analytics Activators for Financial Services

The past decade has seen an explosion of data that many financial institutions have found difficult to use to their benefit. BCG helps clients build data analytics solutions that drive transformation not just in technology but also in how businesses and people work with technology. Our unique approach focuses on generating immediate value and competitive advantage for clients through cutting-edge data science combined with innovative solutions that drive impact.

Five major trends are contributing to the data explosion:

  • Unprecedented access to information about consumer behavior, market trends, and business ecosystems
  • Pervasive digitalization that is omnichannel and always connected
  • Enabling technologies such as robotics and artificial intelligence, along with greater processing power and data-storage capabilities
  • Evolving consumer behavior, including a willingness to engage with brands anytime, anywhere
  • New market forces including disintermediation, a sharing economy, and crowd sourcing

But many players have struggled to convert opportunity into value for reasons such as:

  • Analytics capabilities not directly linked to business goals
  • Big Bang approach instead of agile, iterative methods
  • Inability to source and integrate talent with the rest of the organization
  • Analytics improvement perceived as a one-off project instead of a permanent transformation in ways of working
Digital, Technology, and Data