To lead their data insight initiatives, financial institutions (FIs) increasingly turn to individuals they’ve identified as “big data champions.” These individuals are responsible for keeping data initiatives top-of-mind and moving from launch to measurement. While some FIs may find these champions already among their ranks, others may need to engage an external specialist.
In the third white paper of her big data series, TMG’s CEO Shazia Manus explores “5 Considerations for Financial Institutions Building Business Intelligence Teams.” Among those items to consider is the selection of your FI’s big data champion. The best big data champions tend to have the following characteristics:
- Love of gathering data – The hunt for and application of data insights is not just a job for these individuals; it’s a passion.
- Thirst for knowledge – Those motivated by a drive to learn are most content in the pursuit of information and answers. For them, problem solving takes more of an information-gathering approach.
- Passion for taking ownership – These individuals are driven by the responsibility of holding others accountable. They stay on track rather than getting lost in non-productive activities.
- Motivation from the nitty-gritty of data analytics – Cleaning and organizing data plays an important role in any business intelligence (BI) team. Individuals with the right motivations tend to find these day-to-day tasks enjoyable.
When developing a BI team, it is important to remember one individual does not have to possess all of the characteristics mentioned above. A BI team can be composed of several individuals, each with their own unique combination of a few (or all) of the necessary characteristics. What’s important is how effectively the team works together to advance big data strategies.