Big data is not just a buzzword anymore. Businesses across the world are taking a deep dive into all of the information they collect to better serve their customers and clients. That includes companies in the pension industry.
The 2014 Retirement Trends report looks at how plan sponsors and record keepers are using analytics and data to help members increase their retirement savings. Thanks to a number of analytic tools being deployed by some of the financial industry’s biggest players, sponsors are starting to improve communication with members, target specific groups and individuals with more appropriate messages, enhance investment options and much more. Ultimately, big data will help sponsors with their most important task: ensuring that their employees have enough money for retirement.