New Survey Finds Data Analytics Can Help Retirement Organizations Provide Suitable Benefits to Members
Owen Davies, leads Accenture’s North American public pensions practice
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A new survey finds that nearly 92 percent of decision-makers at U.S. public retirement systems believe their organizations would benefit from increased use of data analytics. And, 80 percent said analytics can help retirement organizations improve benefits to members, including portfolio performance and risk, minimizing error and fraud, and streamlining records and transactions.
Owen Davies, who leads Accenture’s North American public pensions practice, says data analytics can help retirement organizations provide suitable benefits to members.
WITH NEARLY TWENTY MILLION MEMBERS, PUBLIC PENSION MANAGERS ARE SITTING ON YEARS OF UNTAPPED DATA, A GOLDMINE OF INFORMATION WITH THE POTENTIAL TO YIELD INSIGHTS AND STRENGTHEN PENSION PERFORMANCE. DATA-DRIVEN DECISION-MAKING CAN HELP FINANCIALLY STRAINED RETIREMENT SYSTEMS PROVIDE SUITABLE BENEFITS AND SERVICES TO THEIR MEMBERS, WHICH HAS BECOME AN INCREASINGLY CHALLENGING RESPONSIBILITY. IT ALSO HELPS IN AREAS SUCH AS INVESTMENT EFFICIENCY AND COMPLIANCE.
For more on the survey, visit www.accenture.com/newsroom.