How companies can use big data for social good

At the 2018 Grace Hopper Celebration, Yassi Hadjibashi of Citi Global Consumer Bank offered advice for the best way to work with big data right now.

Big data social

Big data social- At the 2018 Grace Hopper Celebration, Yassi Hadjibashi of Citi Global Consumer Bank spoke to TechRepublic’s Alison DeNisco Rayome and offered advice for the best way to work with big data now.

Yassi Hadjibashi: In many different ways, it depends in which industry you’re playing.

For us, in banking, there are very many different ways we can think alternatively about to use our data, provide financial access, or products and services. If you think in a lending space, in a saving space, there are many untapped communities we haven’t really played in in the past, and now we can use alternative data sets, being social data, mobile data, to actually create new propensity models or leverage-existing propensity models of who’s suitable for a lending product.

If you think wider about the agenda of financial inclusion in banking, which is also a sustainable development goal from the United Nations, we can actually go and base-attack on the problem at the base of the pyramid, which is, you know, how do we bring more populations in, to higher income and get to the trajectory of wanting to become financial successful in a lifetime?

[It] depends on, again, which industry you’re playing with. What are your existing tools? Your existing skillset in the company? Bringing that collective brain power together in tackling some of these challenges, with new solutions.

Feeling the responsibility, it is your job to think beyond what it takes to just run your business. So as leaders in the data and technology space, it can take a new lens of what other micro-societal problems we have out there in the world… where with your budget, where with your resources, with your technical skills, you can take a fresh new approach, and really put your energy into becoming more effective in the social agenda you’re driving as a leader in your company.

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Article Credit: TechRepublic

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