Big Data Presentation Mar 2015 Washington Summit
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Transcript of Big Data Presentation Mar 2015 Washington Summit
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