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Keep Your Asset Management Firm Competitive with Advanced Analytics and Data Sets

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Stay Competitive with the Help of Data Sets and Advanced Analytics

The asset management industry is more competitive than ever, and the most successful firms are taking advantage of unique data in order to stay on top. Staying relevant in the industry means keeping pace with these changes in data analysis.

 

Of course, asset management firms have been making use of large amounts of data for years. But what sets these new strategies apart is the combination of machine learning and advanced analytics with unique, nontraditional data sets from CRM systems, web traffic, social media, news reports, and other sources. Below, we’ll look at how firms can leverage data sets and advanced analytics to gain an edge over the competition.

 

More Sophisticated Targeting with Data Sets

With the emergence of technologies such as data lakes, organizations have access to larger amounts of data with lower processing costs. Combined with visual analytics, it’s now possible to gain valuable insights from these large amounts of data.

 

In the case of asset managers, the standard approach to this sort of data analysis involves looking for obvious sales opportunities. But the most competitive firms are now looking at data sets through a wider lens.

 

These kinds of data sets -- offered by data brokers such as FactSet’s Market Metrics -- typically include various financial adviser data such as their purchase history, market share, and information about their broker-dealer. While this data is helpful, it’s not enough to give you a competitive edge, particularly considering your competitors likely have access to identical data.

 

Improving Decision Making with Machine Learning

With the help of advanced analytics, you can get the most out of data sets. Advanced techniques such as natural language processing can provide investment insight from nontraditional data such as social media, news reports, and even conversational sentiments connected to your products and company management.

 

By combining these sorts of advanced analytics with data sets -- along with human knowledge -- it’s possible to analyze events in the news and project how they might influence various holdings. The result is a custom news feed that can help you manage risk and make investment decisions.

 

Data as Actionable Intelligence

Using data proactively as actionable intelligence is the key to increasing your revenue. Consider the following questions:

 

  • Do you have access to accurate, timely data?
  • Do you aggregate data from various sources, including your CRM and third-party data?
  • How quickly can you drill down into your data?
  • Does your data help your sales team?
  • Is your system easy for employees to use?

 

Consider the following six examples of how you might use CRM data alongside data sets and advanced analytics for actionable intelligence.

 

1) Taking Initiative and Improving Customer Satisfaction with Sales Data

Analyzing order data can lead to better and more strategic sales calls. Which advisers have placed the largest orders recently? Can your sales team quickly access this data to follow up with them?

 

2) Planning Visits Strategically

Visiting advisers takes a lot of time, and it’s important to be strategic. With the help of Power BI, your sales team can schedule visits in the most efficient and profitable way.

 

3) Marketing Campaign Analysis 

Are you tracking the impact of individual marketing campaigns on your sales? With the help of actionable intelligence, you can determine which campaigns have been the most effective and improve the success of future campaigns.

 

4) Taking Action in Response to Changes

When an adviser places a large redemption order, is this information captured and relayed to the right wholesaler? Do you know why the client placed the redemption order? By identifying these sorts of changes right away, your team can act on them immediately and work to mitigate them.

 

5) Making Use of Sales Dashboards

Your wholesalers should have access to a dashboard with all their relevant data, both via mobile as well as on their computer. This dashboard should combine both in-house and third-party data. This makes it easier for your team to access the data they need, when they need it.

 

6) Taking Advantage of Competitive Information

Imagine you learn that a competitor is closing their large-cap equity fund to new investors. Can you take advantage of this information, building an alternative product and offering it to the right customers?

 

Leverage Your CRM Data Now

Want to learn more about how to leverage your CRM data in combination with data sets and advanced analytics? The experts at AKA Enterprise Solutions can help. Click here to contact us today.

 


ABOUT AKA ENTERPRISE SOLUTIONS
AKA specializes in making it easier to do business, simplifying processes and reducing risks. With agility, expertise, and original industry solutions, we embrace projects other technology firms avoid—regardless of their complexity. As a true strategic partner, we help organizations slay the dragons that are keeping them from innovating their way to greatness. Call us at 212-502-3900!

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