Business leaders frequently hear that data is their most valuable asset. And while few would refute the claim, there is a big difference between understanding the theory and being able to put it into practice.
According to the World Retail Banking Report 2022, 73% of banking executives say their companies struggle to turn data into useful insights and 70% say they lack the resources to adequately process and analyse data.
The data deluge is not unique to banking. Rapid advances in technology mean huge volumes of data are being generated every second in every industry, within companies and as they interact with customers and suppliers. Business leaders frequently say that data is their biggest asset, but very often their practices do not reflect this.
To discuss how the financial-services industry uses and perceives data, Economist Impact convened “
It’s All About Data: Harnessing Finance’s Most Valuable Asset”, a webinar sponsored by InterSystems and moderated by Swarup Gupta, head of financial services and ESG at the Economist Intelligence Unit. The panel of experts brought together Joe Lichtenberg, global head of industry marketing at InterSystems; Kerem Tomak, global chief analytics officer at ING; Sarah Gadd, global head of data and artificial intelligence (AI) solutions at Credit Suisse; and Nilesh Vaidya, global head of the banking and capital markets practice at Capgemini.