Mr. Segal introduced the ActiFi Business Value Model at the 2019 T3 Advisor Conference in Texas. The T3 Conference is the leading technology conference in the retail wealth management industry. The ActiFi Business Value Model enables financial institutions to have meaningful, data-driven conversations surrounding their business goals on a recurring basis.
Oftentimes, we are inundated with data and reports that lack context or value without the proper knowledge, wisdom, or execution. Throughout the presentation, Mr. Segal demonstrates how to get the most value out of the data/systems that financial institutions are currently using. To obtain the most value from the data/systems, he focuses on five key components that lead to fact-based discussions and the corresponding actions to take:
- The importance of clear and accurate data – if your data is inaccurate or doesn’t exist, you cannot derive any insights or value from it.
- Leveraging reports and dashboards – In order to use the data you have access to, it needs to be presented in a format that you and your team can understand
- Knowledge of what the reports/dashboards are telling you in relation to your progress toward your goals and whether you are on or off track.
- Wisdom – Once you know if that your goal is on or off-track, you need the wisdom to know which activities will have the greatest impact to move in the dial in the right direction.
- Execution – This is the most important step – if your team doesn’t take the actions that they decided would have the most impact on the KPI’s, it is impossible to know if they would have moved the dial.
Feel free to check out the full video of Mr. Segal’s presentation below!