Bob Skea, CEO
To keep up with today’s digital imperative, financial institutions are braving a new front in automating asset and wealth management, alongside product marketing functions.
To help their teams communicate with customers and prospects on a more engaging level, companies in the sector are deploying more data, analytics, and technology than ever before.
The real challenge for companies making the shift to an automated workflow is in handling the preponderance of information that has become available to them.
As volumes of information accumulate, the key to purposeful business is sifting through the data and deriving its true value to compete favorably in the marketplace.
On a constant quest to help asset and wealth management firms achieve successful outcomes, Discovery Data, a market leader in the data analytics and business intelligence space, has built a substantial data repository on the financial services industry.
Through Discovery Data’s unique and highly automated process—FRAME (Fuel, Refine, Analyze, Magnify, and Execute)—the firm aggregates data from over 65 disparate sources in the industry and hundreds of open sources, empowering clients with access to business-critical information that helps them make informed decisions to guide a customer toward profitable financial streams.
“We help customers sift through their databases, whether unstructured or structured, and then create analytics to inform about the most targeted approach to assuring success,” expresses Bob Skea, CEO at Discovery Data. “We collect data every day and refresh the data we share with our clients on a weekly or day-to-day basis, such that they can act upon their initiatives quickly.”
Discovery Data’s flagship product, MarketPro, is a SaaS-based desktop platform, which enables companies to easily distribute products and recruit the right personnel with a deep understanding of local communities and the experience needed to guide customers towards the right investment plans.
We help customers sift through myriads
of data, whether unstructured or
structured, and then create analytics
to inform our client the approach they
need to pursue next in assuring success
Clients can opt for Discovery Data’s MarketLink suite of managed data services to integrate data directly into existing ecosystems.
An integral part of the Market Link product family is MarketLink Cleansing.
“We take a client’s data, clean, match, and append based on various categories of importance, and deliver the cleanest records available,” elucidates Skea.
To deploy a feature-rich business intelligence approach, asset and wealth management companies can use MarketSage to view over 13 years of longitudinal data streams and analyze trends and movements in various marketplaces along different dimensions.
Completing the product suite is MarketReach, a marketing service that allows companies to put their hypotheses into action and engage with advisors and insurers in a very targeted, personalized way.
“We provide an agency model and perform operations such as email campaigns, outbound calls, podcasts, and webinars to help companies go to market quickly,” adds Skea.
With a Net Promoter Score of 73, Discovery Data takes pride in the accuracy of the data it shares with clients and the level of customer support it provides.
For one large asset manager seeking to achieve better market reach for mutual funds, ETFs, and other such products, Discovery Data’s capability to study behavioral intent was critical in understanding which advisors recently expressed an interest in certain asset products.
Using Discovery Data’s Intent Signals, the client was able to hyper-focus their outbound efforts towards these individuals, resulting in a 15x ROI in a short amount of time.
As digitization continues to affect asset and wealth management operations, Discovery Data will turn its focus to initiate a noticeably more open-source approach to delivering data not just through its applications but also third-party software.
The idea is to meet the clients where they already are in terms of digitization and provide value within the most appropriate workflows.