Learn How Morgan Stanley Utilizes Tableau to Grow Business | Success Anywhere | Salesforce

Another customer that saw growth through 2020 is Morgan Stanley. And they use data to make informed and really successful decisions, despite all of last year's challenges. Let's roll the film.

A little bit of data in the hands of many is a lot better than a lot of data in the hands of few. Here at Morgan Stanley, my focus is really empowering individuals to access information to make better decisions. And while the pandemic hit us hard in terms of not being able to see folks, it didn't prevent from innovating further. Having a meeting where the visualization is the main focus and everybody can understand it helped us in this work. From home environment, Tableau's become part of our DNA. We've leveraged Salesforce to track what customers are responding to, what they're opening, what they're not, what their affinities are. And all of that goes into that single source of truth. We use Tableau as a vehicle to look at those insights, to personalize experiences for our clients and make better choices on their behalf. Each person is unique. All have different goals and objectives in their life. You want to save for your retirement, you're planning for a wedding. You have a sick mother who has Alzheimer's. Our job is to ensure that we're helping achieve those financial goals. Success from anywhere to me is being able to make choices on the fly, no matter what the situation is. And knowing what we accomplished during this period, imagine what we can do when we're together.

I love that line. Success from anywhere means being able to make choices on the fly. And that's so true. And that's really what the Salesforce Customer360 helps you accomplish. This is Morgan Stanley's Customer360 powered by Salesforce. It gives them a single view of their clients across their entire business. And with the power of data, they're able to stay focused on growth during these times of change. And that was especially important in 2020. Morgan Stanley Wealth Management used Tableau to create visualizations to gain insight into how their advisors and their clients were using new digital tools in lieu of in person experiences. And that was really a game changer for them because it powered a new culture of data driven decision making across the entire firm. Here to tell us more about that is Morgan Stanley Wealth Management's head of data strategy and information delivery, Morgan Joseph Bonanno. Joseph, welcome. It's really good to see you here.

Thanks for having me, Ebony. It's great to be here.

Great. Now tell us, how has data driven transformation at Morgan Stanley helped you find success?

Look, data is the lifeblood of our organization. It always has been. And we feel that intelligent people find better uses for data every single day. And having a data literate organization makes better requests, makes better choices, and ultimately better decisions. I would say tools like Salesforce and Tableau have really enabled people to drive our culture in a direction where folks are really understanding the art of the possible, what we can do by empowering people with information and really these fundamental skills, we're seeing a tremendous amount of innovation, efficiency. Data science isn't just for the data scientists. We can move 50 projects at the speed of historically one project. So for us, it's really the new norm.

That's wonderful. I love. We're democratizing data. So what lessons can you share with others in financial services?

Yeah, you know, it's interesting because a lot of folks start with the tools and analytics and we're sort of like, let's start with the business problem first. And when you think about it, your people are your most important asset. And for us, building that culture of trust and collaboration is really key to our priorities. And I would say always having strong leadership really matters. And sometimes there isn't just a silver bullet. Right. Understanding objectives and what you're trying to solve for is important to every person in the organization. It really gives people accountability and a better understanding of how they fit in. For us, we realize we can't do it alone. It's partnerships and relationships with folks like Salesforce and embracing tools like Tableau and all the other things that come with it that allows us to excel forward. I would just say for most folks, respect everybody, listen to people's opinions. It's diversity of thought that really makes a better environment. But start with that business problem first before you start with your tools.

I like that. One last question for you before I let you go. What's next for Morgan Stanley?

Yeah, it's a great question. And the way I think about it is if you take a step back, we believe that the best decisions are made with analytics and data and then marrying that with what I'll call content or knowledge. And the future for us is really bringing the two of those actually closer together. So analytics and data and knowledge, real time, if you will. And I think our financial advisors are going to shift from an investment advice culture to providing family advice, personal situations, worldly events like what's going on, and through things like NLP and chatbots and intelligent assistance. For us, that's a game changer. And we feel like we're uniquely positioned given the volumes of data. We have the insights and information and behaviors we have about our clients and bringing that together is really going to position us well.

Joseph, thank you so much again. Thank you to you and your team and congratulations on all your success. Thanks for joining us.

Thanks for having me. Ebony.

It's great to be here now here to tell us more and to be able to see the power of data in action. We'd like to turn it over to Sanjna Parulakar.

Thanks Ebony. Meeting Changing customer needs can be challenging and it's hard to know where to start. Well, it all begins with data and I'm excited to show you all how Tableau is helping put the power of data into the hands of everyone. Not just data analysts, but sales and service too. I'm here with my friend Amy who's a commercial lender in financial services. Hi Amy.

Hi Sunjana. I'll be right with you.

Okay, thanks. Amy's had a busy pandemic year helping her small and medium business clients secure their funding needs. Thankfully, Salesforce helps Amy proactively manage her book of business. Tableau analytics are embedded here inside the customer360 with in context insights where she can take immediate action. It looks like one of her clients, Ozzy's Organics, deserves some attention. So Amy clicks into that opportunity to take a deeper look. She can see a complete 360 degree view of Aussies with Tableau and it looks like the revenue trend is increasing for the lending products and with it the client's profitability. This spurs some additional questions. Why is the balance on the credit line rising? Are there other products that would serve their financing needs? It's time for her to do some deeper data exploration. Banking is a highly regulated industry, so a lot of this data lives in on premise data centers in addition to the cloud. But that's no problem for Amy as Tableau connects any data from anywhere, empowering her to find more meaningful insights. Now Amy can see the full financial and profit details for Aussies. She can explore profit over time by product line. And look at that. She has the insight that a new product with a lower interest rate will greatly benefit them. This is a growth opportunity for Amy's entire firm. With one click she easily shares the Tableau visualization to her portfolio analyst Randy to see if there are other clients with similar patterns that they should proactively engage. Now I know Randy has a few tricks up his sleeve. Let's go chat with him. Hey Randy, what's going on with this Tableau viz?

Hey Sanjana. Amy just sent me the vision of Ozzy's profit over time. She asked me to look for similar profiles that would benefit from our new low interest product. Actually, just yesterday I built a new predictive model with Eyesten Discovery in Tableau. This will help me find similar clients and also take risk into account. Let me show you how it works. Can you see my screen?

Yep.

So Tableau business science makes data science simple for analysts like me. Here I can see the insights for clients that have similar profiles to Ozis. As I explore this data, you can see isteam Discovery is showing me predictions and recommended actions. I can see the impact as I filter dimensions and I can simply publish this dashboard with the predictions for my entire team. These predictions would also be helpful for our agents and service. I can push it back into Salesforce so they can better help their clients.

Thanks Randy. That was a helpful tour. Let's jump over to see what this prediction would look like for Sarah the customer service agent. As she's working on her client's request, she has the same insight embedded predicting the client is low risk and unlikely to default. With Einstein providing these supporting insights, all the guesswork is taken out to make Sarah's job easier. And with that, you just saw how data empowers everyone from Amy in sales to Randy the portfolio analyst and Sarah in service to find success from anywhere with Tableau.