FlexMR are headed to the MRS Financial Services conference on 12th November 2024, as both presenters at and sponsors of the event. FlexMR’s CEO, Paul Hudson, will be presenting an experiment with Aegon’s Insight Senior Consultant, Tereza Anderson, in the firm’s first foray into synthetic data. Meanwhile, Maria Twigge, Michael Connor and Charlotte Duff will be manning the FlexMR stand and networking with financial services experts throughout the event.
Financial wellbeing is a complex, sensitive and changeable measure. The Aegon Financial Wellbeing tracker has provided regular, timely insight but ensuring a consistently accurate and representative sample requires prudent management.
In the search for measures that might reduce such a burden, FlexMR and Aegon embarked on a series of experiments with synthetic data – seeking to answer whether sufficiently trained AI models could play a role in helping both financial institutions and insight experts to obtain larger quantities of accurate data in a timely fashion for successful stakeholder decision-making.
Specifically, the team aimed to test whether synthetic data can augment complex survey responses in several ways, such as completing partial responses, boosting sample sizes and re-weighting datasets. Focussing on both quantitative and qualitative data, this experiment determined the current capabilities of synthetic data models, as well as areas for improvement.
The fascinating results of this experiment hold incredible potential for the financial services and market research industries, with the potential for synthetic data to immediately change the game when it comes to particularly sensitive research ventures. So, join us to learn:
- The current power of synthetic data in accurately predicting participant responses
- The challenges synthetic data still has to overcome
- The great use cases for synthetic data in market research and financial services industries
- How this impacts data sourcing in future sensitive data generation exercises
FlexMR are proud to be sponsors of this event, and look forward to learning from other trusted insight experts and financial institutions such as Santander, Fair4All Finance, Principality Building Society, and Alliance Trust.
About MRS Financial Services 2024
The MRS Financial Services 2024 is focused on delivering good outcomes with 360 customer understanding. As a new government takes the reigns and the consumer duty takes full effect, they consider how the economy and new financial landscape will impact financial services providers and consumers.
Join MRS to explore the innovative insight methodologies that are being deployed by financial services brands to uncover holistic consumer understanding and deliver customer centric solutions. With other key contributions from: HSBC, Western Union, Tesco Bank, UK Finance, Cambridge & Countries Bank, and Phoenix Group.
