APT SVP Will Weidman recently authored an article in Global Banking & Finance Review, “Big Data, Omni Channel, and Testing: Turning Buzzwords into Profits.” In the article, Weidman points out that in-market testing is an effective method to rapidly determine which strategies drive KPIs in an omni-channel world: “Organisations can build out a funnel of tests across channels, functional areas and divisions to optimise ROI on nearly every decision made. The most sophisticated testers use learnings from each test to revise strategy and generate new testable ideas going forward, creating a continuous cycle. Conveniently, this model works extremely well in the ever-changing omni-channel environment, where there are new ideas and concepts to test each day.” Click here to read the full article.
In a recent Wall Street Journal article, Randy Bean discusses how Big Data is enabling financial services organizations to innovate in new ways. Whereas data analysis was previously seen as a reactive process, Bean aptly points out that now, “Big Data is delivering innovation through greater data agility, rapid trial and error, and faster learning, resulting in accelerated speed to market, and in new forms of customer disintermediation and tailored customer experiences.” (more…)
As data sophistication increases and advertising channels multiply, one question is becoming increasingly relevant in the banking industry: How can banks optimize ad spend across all channels and ensure they aren’t wasting money on marketing that won’t provide returns? In his recent Editor and Publisher blog, Alan Mutter poses the same question. The main solution he identifies is using APT’s Test & Learn to measure the incremental impact of media investments and other marketing activities. Please see an excerpt from the blog below: (more…)
APT CEO Anthony Bruce was recently featured on Bloomberg TV. Click here to watch as Anthony discusses Big Data and why experimentation is the best way to determine whether a new approach or strategy really works.
In a recent Wall Street Journal article, Dr. Jordan of Penn State’s Smeal College of Business, discusses the challenges of Big Data for companies. APT’s software suite has been designed to solve many of the challenges outlined in the article, as evidenced by the more than 100 leading organizations that leverage APT daily.
“These are great tools, but who has the skills to use them?”
This article suggests that companies must hire “Big Data experts” to use specialized Big Data tools. APT is designed for use by business analysts. It takes only a few hours of training, and doesn’t require an advanced degree in Computer Science or Statistics. The article gets one aspect absolutely right when it suggests that for Big Data to be useful, analysts must understand the industry. While APT has gained a deep understanding of each of the industries in which it serves, we believe that institutionalizing a Big Data analytics process within the organization and empowering internal users always yields better results than outsourcing analysis to vendors with black box solutions.
“What do we do with all these numbers?”
We agree that standard spreadsheets can’t scale to make sense of Big Data. However, the answer to “what do we do with all these numbers?” is clearer. APT focuses on helping banking executives make decisions that will drive significant bottom line improvements. The outputs of APT are designed to answer three key questions to help make more profitable decisions: 1) Will our new idea work? 2) Will it work better in some situations than others? And, 3) How can we tailor and target a rollout for maximum profitability going forward?
To learn more about how APT continues to solve the Big Data challenge, click here to read a Forbes article written by APT’s Chairman, Jim Manzi. And click here to watch a video of APT’s CEO, Anthony Bruce, discussing testing’s role in Big Data.