Work
Saving millions for a financial company
We helped a financial company harness the power of AI in their organisation, resulting in a double digit percent improvement in digital advertising and several millions’ worth of direct savings from inefficient marketing campaigns.
Customer
A FTSE 250 financial company with a turnover of £200 million and a worldwide presence.
Problem
The CEO recognised the importance of data science and artificial intelligence (AI) to the future of the business. The company requested that Faculty determine the major strategic opportunities for it, including optimisation of the existing business functions through the application of new technologies and the creation of new revenue opportunities using AI. We were asked to engage with and execute the most impactful of these opportunities, in collaboration with the company’s internal team.
Solution
First, we identified areas where data was being under-utilised and where AI could add value. Then we made recommendations about the organisational and personnel structure. We provided training for employees in data science management, helped to recruit a new head of data science and filled data scientist roles from Faculty Fellowship programme.
In collaboration with the client, we analysed and segmented the customer base and improved its digital advertising, to help improve the effectiveness of marketing.
Impact
The result was a double-digit percent improvement on digital advertising, and several million pounds’ worth of direct savings by not spending on extremely inefficient campaigns.
We have also helped the client improve how it processes and accesses data within the organisation, and signalled the usefulness of AI to its business.