Large Scale Ambition
While Vanguard recognizes the importance of robust analytics, none of the company’s key initiatives have been centered on analytical capabilities. Still, as a largely virtual company (retail clients are rarely given the occasion to meet with representatives face-to-face) the opportunity is obvious. However, Vanguard remains committed to meeting client needs through more traditional means like expanding call centers rather than turning certain business functions over to analytics enabled automation.
Stages
It is difficult to say how Vanguard approached analytics before I arrived. What I have seen is the company progress from Stage 2 to stage 3. Since I have spent my entire career in the retail investor division, my perspective will be based on that part of the business. I believe this will be sufficient for the purpose of this paper given the division alone has about 5,500 employees and manages $1.9T in assets and accurately reflects the position of the overall organization.
Stage 2
Competing on Analytics describes Stage 2 competitors as possessing …show more content…
Call center operations is using more sophisticated models to improve forecast accuracy and better understanding and utilization of operational levers that increase efficiency and flexibility. Client facing crew now have access to more robust and sophisticated client insights that are easily accessible and drive better results from client contact. Mail operations are in the early stages of integrating robotics and AI applications to more efficiently handle routine requests. Today, the retail business is deploying analytics in all facets of the business yet there still does not appear to be a cohesive strategy with an “enterprise-wide perspective” necessary to achieve Stage 4. However, retail analytics roles are being expanded and centralized in an effort to take this next step towards becoming a true analytics
While Vanguard recognizes the importance of robust analytics, none of the company’s key initiatives have been centered on analytical capabilities. Still, as a largely virtual company (retail clients are rarely given the occasion to meet with representatives face-to-face) the opportunity is obvious. However, Vanguard remains committed to meeting client needs through more traditional means like expanding call centers rather than turning certain business functions over to analytics enabled automation.
Stages
It is difficult to say how Vanguard approached analytics before I arrived. What I have seen is the company progress from Stage 2 to stage 3. Since I have spent my entire career in the retail investor division, my perspective will be based on that part of the business. I believe this will be sufficient for the purpose of this paper given the division alone has about 5,500 employees and manages $1.9T in assets and accurately reflects the position of the overall organization.
Stage 2
Competing on Analytics describes Stage 2 competitors as possessing …show more content…
Call center operations is using more sophisticated models to improve forecast accuracy and better understanding and utilization of operational levers that increase efficiency and flexibility. Client facing crew now have access to more robust and sophisticated client insights that are easily accessible and drive better results from client contact. Mail operations are in the early stages of integrating robotics and AI applications to more efficiently handle routine requests. Today, the retail business is deploying analytics in all facets of the business yet there still does not appear to be a cohesive strategy with an “enterprise-wide perspective” necessary to achieve Stage 4. However, retail analytics roles are being expanded and centralized in an effort to take this next step towards becoming a true analytics