Large banks like JPMorgan have always had big data, but in a letter to shareholders released Wednesday, JPMorgan CEO Jamie Dimon likened the difference between yesterday’s and today’s big data to the difference between a rotary phone and a cellphone.
“To best utilize our data assets and spur innovation, we have built our own extraordinary in-house big data capabilities – we think as good as any in Silicon Valley – populated with more than 200 analysts and data scientists, which we call Intelligent Solutions,” Dimon wrote.
Dimon outlined at least five ways the firm has incorporated big data into improving business processes. In the corporate and investment bank, big data is being deployed to improve operational efficiency by analyzing errors. In custody for example, the firm uses big data to identify and find the root cause of breaks in processes or variances in the net asset values of funds. The result has reduced the operational burden and improved client service, Dimon wrote. Continue reading
As is often the case with any form of government, there are only so many resources to go around, especially in a country as large and diverse as the United States of America. Naturally, in a country where the government determines where and how its resources are divided amongst the many causes and interests of its people, there are various special interest groups and corporations that try to influence the government in its decision-making. This process is known as lobbying, and for better or worse, it plays a major role in American politics.
Controversial in nature, lobbying is typically carried out by well-connected advocates, lawyers, or ex-government officials, who are paid to use their influence with politicians and other public officials to sway political favor one way or another. The connections these lobbyists have with said bureaucrats is often of a very personal nature, and in some cases these relationships span the course of several years or decades, if not their entire life. Continue reading
In business, advertising is often critical to success and companies will go great lengths to promote their product(s) or service(s). These days, no matter where consumers are, advertisements are everywhere. From billboards to buses and even their own phones, consumers are constantly barraged by advertisements, whether they like it or not. With the dawn of social media in an age of information, companies have found ways to incorporate themselves into consumers’ very lives, with their incessant need to promote as strong as ever. Continue reading
When crafting a business partnership, it’s important to take a number of things into consideration, especially if a partnership is expected to stand the test of time. Business partnerships are established for many reasons, but of course when going into business with someone, it’s important to trust them. Trust can be a hard thing to develop, but a partnership isn’t much of a partnership without a degree of trust.
When forming a partnership, both parties should spell out exactly what their expectations are and what they’re contributing, and more importantly get all of that in writing on a legally binding partnership agreement. This way if either party steps out of line, they can hold each other accountable. Continue reading
There are countless businesses and brands out there that are all trying to target their advertising efforts at one demographic in particular; shoppers. However, a large chunk of shopping today does not take place in the stores and boutiques, but rather on the Internet and from mobile devices. People have become well accustomed to the practice of handheld shopping, and mobile shopping is becoming increasingly available.
The idea of most affiliate program marketers targeting shoppers is that the best people to aim their efforts at are women, because traditionally and statistically, they have been the ones most interested in shopping. Well, in the case of mobile shopping, there is a new info graphic that proves that the age-old traditions of shopping trends are taking a slight turn. Continue reading