Business Intelligence is fundamental for banking and financial sectors.
The banking industry is becoming ever-more competitive, and subject to new regulations. Moreover, there are new and growing necessities from the clients’ side, which make Business Intelligence one of the principal means to optimize strategic activities, making them more effective.
The use of Business Intelligence solutions permits banks not only to better deal with the several issues they are facing within the industry, but also exploit the huge amounts of data they own. It is indeed hard to keep track of important information, and it is often problematic to understand which of these are most valuable for the business. This is exactly where Business Intelligence can be extremely helpful.
When used within the financial sector, Business Intelligence solutions allow financial institutions to take accurate decisions targeting them to specific performance objectives.
Dataskills is the market leader for Business Intelligence solutions, offering companies working in the banking and financial sectors all those tools needed to aggregate, analyze, monitor and make use of corporate data. Business Intelligence architectures can effectively help cut costs, increase revenues, and maximize information’s value.
How to use business intelligence solutions in the banking & financial sectors
Financial institutions and banks can make use of BI tools in various ways, creating Business Intelligence solutions that can solve criticalities across different business units.
In order to increase profits, banks fix strict performance objectives. They then need to determine whether internal and external processes are in line with the business’ strategy, and keep track of each action taken to advance towards the end-goal.
With the help of Business Intelligence tools, it is possible to allow banks and financial institutions set more precise performance objectives and monitor their portfolios.
Relevant KPIs monitored by Business Intelligence tools are:
- portfolio analysis
- balance sheet analysis
- asset management
- HR analysis
- employers’ performance monitoring
- P&L analysis
- satisfaction/dissatisfaction analysis
- errors checking and fixing
Other applications of BI tools in the financial sector are:
- management of clients’ profitability
- management of institute’s profitability
- credit analysis
- regulations’ analysis
- operations management
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