12 The results for corporates are just as impressive T Mobile USA for instance used its customer data records billing data and social media information to predict when customers were likely to defect The value of this exercise was undeniable enabling the firm to halve customer defection rates in just three months Banks well placed Fortunately banks are well placed to make the most of big data For a start they are already accustomed to dealing with large volumes of data And according to a 2014 survey from Accenture they may also be at an advantage due to their size The survey found that 58 of large companies reported themselves very pleased with their big data initiatives compared with only 32 of small companies figures that bode well for banks facing smaller competitors However success with big data is not a foregone conclusion and banks looking to take advantage must invest carefully in technology and talent in order to distinguish the signal from the noise For those that are successful in this respect the potential applications are almost limitless Banks will be able to foster greater efficiency in their internal operations approach their clients with targeted offers and predict the movement of markets and the needs of market participants more easily They may also be able to build big data into their existing payments services adding value to their clients by incorporating analyses of transaction data and other relevant information

Vorschau UniCredit Digitalization Seite 12
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