Make Your Asset Management Firm More Competitive with Data Sets and Advanced Analytics

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Keep Your Firm Competitive with Data Sets and Advanced Analytics

For asset management firms, the landscape has never been more competitive. In order to be successful, leading firms are beginning to utilize nontraditional data. With the help of unique data sets taken from ERP systems, social media, web traffic, news sources, and even weather reports, firms are gaining valuable insights that their competitors don’t have access to. Find out how asset management firms can stay competitive with the help of data sets and advanced analytics below.


Advanced Targeting with the Help of Data Sets

Thanks to new technologies like data lakes, asset management firms can now access massive amounts of data without high processing costs. Using visual analytics, these firms can gain valuable insights from this data.


Traditionally, asset managers simply look for the clearest sales opportunities presented by this sort of data. But leading firms are doing something different: they’re looking at large data sets in a big picture way, taking advantage of the benefits of machine learning.


Data sets offered by brokers such as DST Systems and Pershing’s Albridge Solutions typically provide firms with various adviser data, including their market share, purchase history, and web statistics. But this data alone is no longer enough to stay competitive, especially since a firm’s competitors are likely looking at the same data.


Better Decision Making with Machine Learning

Getting the most out of a data set involves the use of advanced analytics, including machine learning and natural language processing. These advanced techniques can offer new insight into unique data sets, including news reports, social media posts, and analyst reports. It’s even possible to analyze the way people are talking about your products or your firm’s management and use this data to make better decisions. Combined with data sets and human knowledge, your firm can better manage risk and make smarter investment decisions.


Actionable Intelligence and Data 

The key to staying competitive is using your data as actionable intelligence. How would you respond to the following questions?


  • Do you have a system that’s easy for your team to use?
  • Is your sales team taking advantage of data?
  • Can you quickly drill down into data?
  • Are you combining data from multiple sources, including your ERP and third-party sources?
  • Is your data timely? Is it accurate?


Here are some examples of how you might combine your ERP data with advanced analytics and data sets. The end result is actionable intelligence for better decision making.


Utilizing Competitive Information 

If you learn that a competitor is closing one of their funds to new investors, are you able to take advantage of this information? With the right data and analytics, you should be able to build an alternative product and offer it to the right advisers.


Sales Dashboards

It’s important for your wholesalers to have access to their data all in one place. Your team should have a dashboard available via both mobile and PC which combines in-house and third-party data, including ERP data.


Responding to Change

If an adviser places a large redemption order, how quickly are you able to respond? With the right systems in place, a wholesaler would be alerted immediately so that they can follow up and mitigate the situation.


Analyzing Marketing Campaigns

Do you know which marketing campaigns have been the most successful? Are you using this data to design and implement future marketing campaigns?


Strategic Planning for Adviser Visits

Visiting advisers is time consuming. The more strategic your team can be about scheduling adviser visits, the better. Using actionable data and Power BI, you can ensure that your wholesalers meet with the right clients, in the right order.


Using Sales Data

Your sales team should be making use of existing sales data when planning sales calls and follow-ups. Imagine being able to generate a list of the largest orders placed within a certain period of time, and providing this data to your sales reps. They can then follow up with your most lucrative accounts. This is just one of many examples of the sort of data your sales team should have access to.


Use Your ERP Data and Stay Competitive

By combining your ERP data with advanced analytics and data sets, your asset management firm can gain an edge over the competition. Want to learn more? Contact the experts at AKA Enterprise Solutions today.


AKA specializes in making it easier to do business, simplifying processes and reducing risks. With agility, expertise, and original industry solutions, we embrace projects other technology firms avoid—regardless of their complexity. As a true strategic partner, we help organizations slay the dragons that are keeping them from innovating their way to greatness. Call us at 212-502-3900!

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