Is it possible to deliver massive value with analytics? Jose Murillo, Chief Analytics Officer at Groupo Financiero Banorte, talks about how his team generated 200x on their marketing analytics investment for the bank in this episode. He was invited to build an analytics group within Banorte with a core mandate: Increase customer equity. After a little bit more than three years his analytics group has in partnership with the business and support lines, has produced value close to $1B in net income. In 2017, this was equivalent to 43% of the net income produced by the whole financial group. In this episode, Murillo talks about the six factors for success, including being set up as a profit center with targets and accountability, fostering relationships through the organization, and the passion that comes when an analytics team owns the results. He explains the impact teams can generate, and that they can take time to accrue. Murillo also explains how to pick the right project — they are a mixture of science, business knowledge, and contain inevitable institutional hurdles.

from Ambition Data…