Ariane Shadbolt


In depth


How data will revolutionise revenue generation

Executive Summary

Smart use of data not only drives revenue-generation but also minimises costs.

Over the past 12 months, Relata has conducted conversations with C-Suite executives from across the financial services, consulting, pharmaceutical and real estate industries to identify and address the potential benefits which enterprises can unlock if they pursue data-driven business practices. In this white paper we divide these potential benefits into three categories: driving revenue growth through empowering “knowledge workers” with data-driven insights; improving front-office productivity through automating non-core administrative tasks; and AI technologies to minimise the cost, risk and burden of regulatory compliance. By combining the results of these conversations with the findings contained in our dataset, we deliver statistics and expert opinion on the power which smart use of data has in revolutionising an enterprise’s revenue generation.

Reduce client churn

Smart use of data enables sales professionals to better understand client preferences and behaviour and visualise opportunities and risks within their existing client base. Armed with the correct data, managers can refine and optimise the customer experience and deliver tailored, timely and relevant information. In today’s workplace environment where the average buy-side investment manager reads only 20% of their emails per day, it is more important than ever to cut through the noise to deliver the level of service that is expected.

Increase front-office productivity

Sales executives spend as little as one-third of their time performing sales activities; 64% of their time is spent doing non-revenue generating administrative tasks or inside sales research.* Artificial intelligence technologies have enabled the automation of many of these administrative tasks and not only free up a lot more front-office sales time, they also result in a complete, accurate and impartial data set on which to base enterprise decisions. The highest performing sales teams are 1.5 times more likely to base sales forecasts on data-driven insights rather than intuition.* Getting ahead in today’s high-frequency, multi-channel sales environment requires the deployment of data-driven practices.

(Source: Forbes Insights, Survey of 720 sales representatives, 2018)
(Source: Salesforce, 26 Sales Statistics that prove Sales is Changing, January 2019)

Minimise compliance costs

The regulatory environment is increasingly stringent and costly to implement. It has been estimated that in the investment banking industry, 40% of an enterprise’s costs are compliance related.* In asset management, the cost of MiFID II compliance is forecast to rise to 10% of revenues by 2021.* Last year, the automation of research inducement monitoring proved to reduce one of our client’s risk of inducement by over 90% and the evidence provided by research consumption data exactly reflected the result of the firm’s broker voting system. This is a clear example of how artificial intelligence can not only minimise compliance costs but also streamline processes to enable front-office employees to spend more time doing what they do best: generating revenue.

(Source: EY, Building the investment bank of the future, 2016)
(Source: Duff & Phelps, Global Regulatory Outlook, December 2018)

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