Tomahawk, WI 03/04/2014 (Basicsmedia) – Financial institutions like Wells Fargo & Co. (NYSE:WFC) collect a lot of data on account of their transactions. Companies are increasingly aware of this wealth lying on their servers and are taking measures to mine it.

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Wells Fargo appoints Chief Data Officer:

Wells Fargo & Co. (NYSE:WFC) is also taking steps in this direction. The company has recently appointed A. Charles Thomas as Chief Data Officer. He will be responsible for the wealth of data lying with Wells Fargo and determine strategies to use it. It is expected that the company will try to leverage the data to improve risk management as well as customer experience. With his wealth of knowledge in analytics field, he is expected to provide the company enterprise data governance strategies. He will be joining in March and the Enterprise Data and Analytics team will report to him.

With cyber crimes becoming very worrisome, he is also expected to lead the company’s pro active strategies in this field.

Another Appointment, Another Strategy:

Wells Fargo & Co. (NYSE:WFC) also announced another appointment, this time of Regina Edwards as Head of corporate supplier diversity. She has been tasked with integrating certified minority, disadvantaged, women and small business enterprises to its supply chain processes. These segments have been ignored for long and the company plans to use their skills and business acumen for their needs.

This may turn out to be smart move to attract business as well. Wells Fargo can build on its relationship and take it further for its own benefits as well. This also signifies how many companies are using different strategies to attract and retain customers. Wells Fargo & Co. (NYSE:WFC) is expected to declare earnings of $0.96 per share for the current quarter. Analysts also expect the company to declare revenues of $20.66 billion, this would entail de-growth of almost 3% in revenues on YoY. Earnings are expected to show an improvement both on y-on-y basis as well as on sequential basis.

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