Beyond: Putting Data to Work (previously Beyond Analysis)

In Australia, a foremost bank, possessing extensive customer information, recognized an opportunity to dive deep into the country’s economy and consumer behaviors, aspiring to lead in understanding and forecasting consumer trends. This vision promised business prowess and a chance to impact the economy positively by adapting to consumer shifts swiftly.To realize this, Beyond was engaged. We analyzed data from 27 consumer spending categories, offering a detailed economic depiction, revealing disparities among population segments. We considered insights into consumers’ economic perceptions, financial statuses, and future income expectations, combining them with granular data like marital status and employment to offer a nuanced view of consumer behavior.However, privacy was paramount; concerns regarding data handling were inevitable. Beyond employed advanced data modeling and sampling to anonymize data and recommended transparent communication with customers regarding data usage. Moreover, data accuracy, crucial when amalgamating diverse data sources, was ensured by collaborating with economic advisors.The project’s success was groundbreaking. The bank unlocked powerful business and market intelligence, discovering growth avenues and enhancing their offerings. More so, the initiative exemplified ‘Data for Good,’ enabling the bank to aid policymakers in making informed, beneficial decisions, reflecting a profound understanding of the economic environment.This endeavor received widespread media recognition, enhancing the bank’s reputation significantly. It triggered extensive media coverage and digital engagement, with insights featured prominently across various media platforms. The bank’s economic insights report witnessed thousands of downloads.This accomplishment was a direct result of the bank’s comprehensive dataset from over 10 million customers, transforming it into an economic guide, leading consumers and policymakers toward a wealthier economic future.

LGT, a globally renowned private banking and asset management group, experienced efficiency issues within their customer screening systems due to architectural challenges and partial outsourcing of scoring to World Check. A need arose for a refined solution to optimize and benchmark their screening system, where Beyond played a pivotal role.We began our collaborative endeavor with an initial capability assessment to identify and rectify weaknesses in LGT’s customer screening system, providing tailored recommendations to augment its overall efficiency and effectiveness. We revamped LGT’s institution risk profile to accurately mirror their exposure, thereby mitigating potential risks more effectively. With our tuning support, we successfully decreased the false positive rate for sanctions from 28.5% to 22.1%, sharpening the system’s accuracy. Precise threshold adjustments led to a 50% reduction in system hits, ensuring an efficient use of resources without compromising on identifying true matches, subsequently diminishing overall screening costs.Beyond also implemented a machine learning-based post-processor solution, further reducing the false positive rate for sanctions by an additional 11 percentage points. This intervention led to optimal system performance, lower false positive rates, and substantial cost savings. It enabled LGT to surmount their screening challenges, ensuring a meticulous and efficient screening process, optimized resource allocation, and heightened risk management.In this endeavor, Beyond has demonstrated its commitment to transforming data into powerful, actionable insights that can elevate business operations and outcomes. We affirm that data, with its profound capabilities, can significantly drive business growth and pave the way for innovative, tangible solutions, as evidenced by our fruitful partnership with LGT.

DFS Furniture plc, a leading furniture retailer with an annual revenue of £1.2 billion, sought to amplify its marketing effectiveness, ROI, and digital transformation. To accomplish this, DFS partnered with Beyond, a data-driven solutions company, evolving from project-based collaboration to a long-term managed services contract. The pinnacle of this partnership was the creation of the Growth Engine. Beyond’s machine learning models integrated diverse datasets, providing a 360-degree hyper-local view of the market, outlining catchment area market share, and defining customer headroom opportunities, including potential cannibalization.This sophisticated model was continuously refined with enhanced data to drive superior performance, providing DFS with invaluable insights and facilitating data-driven decision-making. The implementation of the Growth Engine from 2018 to 2021 resulted in a 31% increase in sales and a 25% reduction in overall marketing spend. DFS’s transition towards digital marketing was substantial, with the proportion of digital marketing soaring from 18% in 2019 to 39% in 2022, leading to a 48% increase in search marketing ROI between H1 FY20 and H1 FY22.The Growth Engine has been instrumental in influencing strategic decision-making within DFS, offering substantial business benefits. Beyond’s commitment to leveraging data and collaboration has enabled DFS to optimize marketing efforts, boost ROI, and advance in their digital transformation journey. At Beyond, we hold steadfast in our belief that data is not merely numerical but a catalyst for unlocking insights, informing decisions, and achieving remarkable business outcomes. Our overarching goal is to empower clients to leverage their data to its fullest potential and spur meaningful growth.

DFS Furniture plc, a leading furniture retailer in multiple European countries, was encountering growth impediments due to aging infrastructure, fragmented processes, and several other data environment challenges. In response, Beyond, having a longstanding partnership with DFS, devised a comprehensive data strategy and executed a modern data infrastructure solution on the Google Cloud Platform. This solution redefined data management processes, establishing a central repository for master and reference data, and initiated templated ingestion paths for diverse data sources.The benefits of Beyond’s approach have been profound:Single Source of Truth: A unified, reliable source fostering organizational coherence and shared understanding.Enhanced Reliability: Substantially improved stability in data load processes, reducing technical debt and increasing operational efficiency.Strengthened Data Security: Improved governance and compliance with data privacy regulations.Rapid Time to Value: Quick realization of value from new data sets, facilitating data-driven decision-making across various domains.Scalable Infrastructure: Ready for group-wide deployment, allowing seamless data integration across different organizational segments.Optimized Data Ingestion: Successful assimilation of 200 billion data pieces, optimizing 750,000 transactions annually, and bolstering revenue by £1.1 billion.Beyond’s innovative solution has enabled DFS to navigate its data challenges effectively, optimizing sales, enhancing efficiency, and fostering flexibility, thus equipping the company for future expansion. With a robust and scalable data environment in place, DFS is well-positioned to leverage its data assets to extract substantial business value and drive organizational growth.