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Unlocking the value in 'big data'

Mutual fund providers and DC plan insiders can use tools to interpret the litany of electronic data to find more apt clients and boost participation.

By Andy Stonehouse | Updated on November 09, 2012
Image credit: David Castillo Dominici

Tim Slavin, senior vice president of defined contribution for Broadridge Financial Solutions, has a favorite story he likes to tell about “big data,” an industry buzzword for the ever-growing spectrum of electronic data clouding the retirement universe.

“My daughter runs the Canadian arm of a major merchandising company aimed at the teen market, and in just a few seconds, she can use her computer to find out how many size-small pink shirts were bought at a store in Vancouver, and then use social media to follow up on those sales and build on it,” he says.

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