Perceptions of independent financial advisors on the usefulness of Big Data in the context of decision making in the UK
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Authors
Grishikashvili, Ketty
Author (Corporation)
Publication date
2019
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01B - Magazine or newspaper article
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Parent work
International Journal of Big Data Intelligence
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Volume
6
Issue / Number
2
Pages / Duration
102-112
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Inderscience
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Abstract
Big data analytics (BDA) are based on massive amounts of structured and unstructured data and should extract meaningful, accurate, and relevant data. However, what is considered as meaningful and relevant is a perception of the analyst. In our paper we focused on perceptions and not on the technical implementation of BDA. For this we looked into one of the most advanced services - the financial services market in the UK. We chose eight independent financial advisors who have had first-hand experiences with large amounts of structured and unstructured data. Results show that there is moderate enthusiasm about the new possibilities of BDA such as better decision making and better market segmentation. This implies the necessity for easy to use tools and training on the side of the financial advisor as well as on the client's side. The paper fills a research gap by analysing the actual impact of BDA on a real company and trying to measure the value of BDA for a financial organisation in form of improved customer relationship through prescriptive analytics.
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330 - Wirtschaft
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Language
English
Created during FHNW affiliation
Yes
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Publication status
Published
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Closed
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Citation
GRISHIKASHVILI, Ketty und Clemens BECHTER, 2019. Perceptions of independent financial advisors on the usefulness of Big Data in the context of decision making in the UK. International Journal of Big Data Intelligence. 2019. Bd. 6, Nr. 2, S. 102–112. DOI 10.1504/IJBDI.2019.098892. Verfügbar unter: https://irf.fhnw.ch/handle/11654/42887