Start with the End in Mind – What Banks Should Consider When Adopting Analytics

There’s an iconic moment in Jurassic Park when discussing the value of creating genetically engineered dinosaurs, Jeff Goldblum’s skeptical Dr. Ian Malcolm says: “Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.”

I think with a slight tweak, today’s bank executives would be well advised to heed Dr. Malcolm’s advice: “Your data scientists are so preoccupied with whether or not they can predict something, they don’t stop to consider what will happen if they are successful.” According to research from The Digital Banking Report, the “use of Big Data, AI, Advanced Analytics, Cognitive Computing” are considered to be the hot trends in banking in 2019 – and with good reason!

Author: Tim VanTassel

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