BUSINESS INTELLIGENCE
SOLUTIONS FOR FINANCIAL SERVICES
Business Challenge
As number of channels grow for banks to reach out to their customers, it is essential to deliver information and to
analyze trends and statistics across every channel. The challenge is to bring together information spread across
disparate systems and data sources to view a complete picture, as opposed to seeing it only by individual product. To succeed, BI is the next step in achieving the holistic cross – organizational view.
Our Customer, one of the leading financial institutions wanted to initiate a project to eliminate the “Excel “driven process of manual reporting on corporate data. As Excel spreadsheets are more prone to errors, end users would
spend much of their data gathering and analysis time, correcting out-of-date information in these excel spreadsheets.
The “Nice”Approach
NSS’ BI team of experts designed a solution considering cross-organizational integration of information for decisionsupport purposes such as sales reporting, key performance indicators (KPIs), and trends analysis. Personalized and
customized customer relationship management (CRM) reporting helped the business users to understand customer
needs, strengthen customer relationships, track trends, identify profitable areas, and prevent fraud.
Our Solution
NSS customized an end-to-end solution to meet the bank’s key objectives through the following deployment:
1. Enterprise Data Warehouse:
a. Designed and developed the roadmap and data architecture standards
b. Modelled key subject areas and developed detailed ETL specification for more than 10 source systems to
meet reporting needs of –
- Branch and Private Banking
- Sales and Management Team
- CRM Team
- Finance Team
c. Launched the data quality initiative to identify and eliminate the data quality issues
2. MicroStrategy Deployment
a. Insight to Action: Informed decision making and timely action is need of the hour for any financial institution. Using transaction services feature, NSS designed and developed eight dashboards to automate the reporting
of finance and sales department. Our dashboards provided the flexibility to the power user to insert the “KPI”
and adjust forecasts which instantly updated the data in the data warehouse, and hence reflect the changes in
all other reports and dashboards. This helped in maintaining a “single version of truth” across the entire
system, accelerating the business activity and improving monitoring.
b.360 degree Solution: With access to critical data, business users need to be able to visualize key metrics based on aggregated information from disparate data sources and achieve deeper insights into business performance. One of the major challenges identified was grouping and hierarchies which existed only in Excel sheet.
Our team of DWH and BI experts designed a standardized model to create a unitary reporting structure with
clear allocation of elements to categories and made it dynamic to maximum extent, thus decreasing the
maintenance effort related to these structures. As a next step, our team of data visualization experts designed
a set of five dashboards to create an integrated and holistic solution to measure financial performance and
monitor significant trends at granular level across multiple dimensions of business. Our intuitive and
interactive dashboard designs allowed the users to drill down to details for full transparency. The reports and
documents covered top to bottom demographic details across products, segments, channels, and to slide and
dice the information on business user’s demand.
Business Benefits
1. NSS’ data quality initiative has increased our clients’ confidence in warehouse-based reporting versus other alternatives, and better quality awareness that improved data warehouse development practices.
2.The transaction dashboards reduced the latency between information delivery, decision making and execution.
3. The 360 degree solution has opened whole new avenues of unmatched analytical power for the business users.
4. NSS’ customized security model for data access has reduced the effort of re-development of multiple reports with similar analysis.
5. Our customized array of dashboard designs leveraging MicroStrategy’s intuitive point-and-click interface has enabled business users with powerful data exploration, faster business insight generation and quicker sharing of insights with a wider audience.
Our Role
- Project Management
- Architecture design, Installation and technology solution
- Requirement gathering, data analysis and data modelling
- BI application designing and development 5. End user training
The “Nice” USP
Our customized end-to-end BI solutions empower our customers to explore many more opportunities for benefits by
exploiting their investment in any BI platform. We understand and foresee that our BI solutions will be an extension to
their current reporting capabilities. Our USP lies in our personalized approach to provide solutions to client’s technical,
function and non-functional needs. To learn more about our innovative functional and technical workshops, prototype
designing activities, customized onsite and online trainings, educative handholding sessions and end user specific
interactive videos and courses, please visit us at www.nicesoftwaresolutions.com or email us at
info@nicesoftwaresolutions.com.
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