Until now, most financial institutions have focused on the capture and storage of data with the primary objective of regulatory compliance. They are failing to realize that their data is in fact their most valuable asset: for themselves, their customers and clients. Transforming how data is used, from analysing the past to predicting future trends, and developing new ways of working, is now essential for all banks. We are entering the era of data commercialisation which will bring internal and external value to businesses.
Capco has created an end-to-end framework which will allow organizations to generate tangible returns from data, starting with the identification of data-driven opportunities and culminating in the broad adoption of new ways of working.
Our paper focuses on the most important step of every analytics project: use case ideation. In order to help organizations build value-added analytics use cases, we've developed a six-step methodology, from onboarding business stakeholders, to field observations and interviews, to use case prioritization.