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Monday, July 10, 2017

exploiting the big data

Let's visit the Marketplace, data comes from everywhere, Social Networks, Telcos,  Retail expenses,  clothing preferences, education records, Uber rides, Foursquare check ins and likes,  Airbnb reservations due leisure or work. Just to name a few and we can go further, ATM's visits than can trace the geographic area of our customer influence.

We can predict customer expenses based on consumption habits, as we can geotag we can also be like credit card cops, simply detecting the customer's current location and credit card current debit place.
Even we could predict cash usage, not difficult at all. But What can we do with this humongous-information.
The first approach to create really disruptive services that can compete with quite focused FinTech ones is to understand what the customer wants, what is he used to do.
 No matter if we deal with millenials or Baby Boomers, customers have specific behaviors, they left their tracks, and Big Data with her friends IA, Analytic engines, etc, is able to show us the right path for deploying business.

Yes, you can name other actors such Blockchain, but this in the end is a technology not a business model. In Telco´s words: We need to fight back Churn. Why out customers are leaving for FinTech services. When Uber hit the market, it was clear that a flexible payment channel should be his spine for offering its service, now Uber´s customer can use Paypal or Credit Cards. What about the unbanked? How one of them could effectively access services such Airbnb, or Online stores.

A few years back, companies were crazy about BI, deploying complex boards to check for its data, transformed in bars and curves. Then the Big Data explosion comes to scene changing some variables but the Control Panel is still here with new visualization tools. Just that the Control Panel needs fresh ideas, something to push the data mining to undiscovered universes.

We have data: Knowledge, we have the Blue Ocean ahead, the first one to hit will hit harder and will establish models and needs. The human being tends to gets  accustomed to comfort, for us any discomfort creates an obnoxious experience. That`s why Data processing should help to offer better experiences.

Once and for all, financial services should abandon the brick and  mortar and traditional web models, try to use mobile devices, IoT, explode the gray internet and obscure data, transform services such transportation to implement revolutionary services. On the other hand redefine complex processes and study new ways of securing information.

Turn to new technologies and players, yes it is fair, but getting advantage of data.

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