Closing the data management and analytics divide in Financial Services

At the Datanova conference, Bank of America leaders Amy Avery and Michelle Boston discussed the bank's strategy for integrating data management with analytics to enhance customer experiences and drive growth while maintaining data privacy and security. They emphasized the importance of trust and collaboration between data and analytics teams, highlighting how intertwined roadmaps and clear roles facilitate effective data use. The bank's approach prioritizes understanding the "why" behind customer needs and business objectives, allowing cross-functional teams to work cohesively. This philosophy aligns with a broader industry shift towards measuring success through value creation, rather than just data protection. Technologies like those from Starburst and ThoughtSpot are instrumental in this strategy, enabling real-time analytics and business intelligence without compromising data management standards, thus helping institutions like Bank of America focus on delivering aligned business outcomes.