There’s a Chinese proverb that says, “The best time to plant a tree was 20 years ago. The second best time is now.” That couldn’t be more true than in the case of data-driven marketing.
A few years ago, companies that were considered innovative and ahead of the curve began using consumer data generated by years of digital activity to redefine marketing as we knew it. Now, those companies are the ones that are on track for continued success. That leaves the rest playing catchup in order to create a solid marketing foundation for the future.
Much of the financial industry is behind the data curve.
For the past two years, incorporating AI, big data, and advanced analytics into marketing strategies has been ranked as the most important area of focus for financial institutions in the coming year.1,2 Despite this general consensus, many financial institutions are missing out on the opportunities data provides. And the financial industry as a whole is falling behind.
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