LIVING ANALYTICS FOR FINANCIAL INTELLIGENCE:OPPORTUNITIES AND CHALLENGES WITH DIGITAL DATA
FOR THE BANKING SECTOR
Robert J. Kauffman,
Singapore Management University
Most senior leaders in business know that innovation and implementation capabilities go hand-in-hand to support corporate success and profitability. Nowhere is this more true than in the financial services industry where, even before the words ‘big data’ and ‘data analytics’ became the vogue, steady efforts were underway since the 1980s to work with structured and unstructured data to produce knowledge to run the business profitably. This presentation will share a new perspective on data analytics for business, consumer and social insights that emphasizes an updated philosophy of science for digital data, research questions, new methods, and illustrative findings that relate to the acquisition of financial intelligence. The ‘living analytics’ perspective on financial intelligence is based on: (1) access to societal scale data – ‘digital traces’ of consumer behavior; (2) to enable the study of banking services and people in networked relationships; (3) in progressively real-time environments; (4) with rapid and iterative experimental methods; (5) that enable the discovery of causal relationships. This view of how to create ‘financial intelligence’ is especially applicable to retail banking, where products and services, branches and ATMs, self-service and full-service relationships with customers, and transaction-making and incentives for loyalty need to be managed. Financial institutions are highly interdisciplinary organizations, where finance, operations, technology, and marketing meet in every product and service area. And yet, the information resources to study key business problems are not always available due to the lack of reference data standards, critical dependencies across different business domains, and limited human capital with deep data analytics skills.
Robert J. Kauffman, Professor
Associate Dean (Research) and Deputy Director
SMU-Carnegie Mellon Living Analytics Research Centre
School of Information Systems
Singapore Management University
Professor Kauffman is a world renowned expert in electronic commerce and economic studies of information technologies. He is currently the Editor-in-Chief of Electronic Commerce Research and Applications. He will speak about emerging trends in Internet and BigData Finance and discuss academic and business issues.
Robert J. Kauffman is Professor of Information Systems and Strategy at the School of Information Systems and the Lee Kong Chian School of Business at Singapore Management University, where he serves as Associate Dean of Research, and Deputy Director of the Living Analytics Research Center. He also is a Distinguished Visiting Fellow at the Center for Digital Strategies of the Tuck School of Business, Dartmouth College. Previously he served at Arizona State University, the University of Minnesota, New York University and the University of Rochester. He also visited the Research Department of the Federal Reserve Bank of Philadelphia, and worked in international banking and finance prior to beginning his academic career. His work has recently appeared in Information Systems Research, IBM Research and Development Journal, MIS Quarterly, the Journal of Management Information Systems, and the Review of Economics and Statistics.