Danny Hardy, head of network analytics at Barclays Bank, is very definitely not prescriptive about analytics and big data but he has some useful ideas on how the topic can be approached.
At the Marketing Week Insight Show (London, March 2019), he highlighted two areas:
- focusing on core capabilities
- having a data-asset led strategy
It’s important to take a step back and look at all the different analytical techniques available, he said, listing things like predictive analytics, classification analytics, graph analytics, geospatial analytics.
“You’ve essentially got there a set of disciplines, a set of techniques,” he suggested. “And rather than immediately starting with the use cases you might want to apply them to, start with these core competencies and use those to drive the use cases.”
For example, Barclays has mapped core business units to those areas where predictive analytics could have a good use. Or in the case of graph analytics, which is all about networks and connections, the brand can start to see relationships that it can tap into and build on. “The concept here is start with the analytical capabilities you might have, and then work forward rather than [going straight to] looking at use cases,” Hardy explained.