Amazon used big data to revolutionize how people buy everything from books to blenders. Now the power of cloud computing and big data analytics is set to revolutionize wealth management, letting financial advisors know which of their clients they should love (those who are profitable now) and which they should lust after (those who have more potential).
Too few financial advisors know what their customers are doing with all of their money or understand their real potential. Data and analytics can give advisors information to win with the best customers. It’s like giving someone a map of where all the Pokémon are hiding.