Banks have moved from managing disparate silos of data to enterprise organisations with programs that recognise data as a strategic asset.
However, business involvement is crucial in analytics and modelling. Underlying this is technology, which focuses on sourcing and aggregating data for consumption. Areas of success at ANZ have been where the business has brought clear vision and excellent knowledge of the data, and collaborated tightly with modellers across both business and technology.
The parallel nature of these activities and an iterative approach make it essential for teams to work together to achieve success.
ANZ is successfully using customer data analytics to improve our digital customer experience. This includes increasing the relevance of our marketing campaigns. The business has driven relevant campaigns through digital and social channels from both a time and product perspective, while
IT has sourced and modelled the data used by the analytical engine. We've also implemented Hadoop technology for big data to capture information and create business insight from large volumes of structured and unstructured data.
The big data strategy is aligned to the social media strategy. The business provides all the use cases and utilises analytical tools to gain insight, while the technology [group] sources and maintains the data.
To help with this, ANZ has introduced business intelligence tools to improve analysis and reporting across the enterprise.