Analytics & Business Intelligence

Factors such as globalization, deregulation, mergers and acquisitions, international competition, and technological innovations, have forced businesses and institutions to re-think and gain deeper insight from the past and present data. Transforming data into intelligence is the key accurate data can help us in applying analytics and Business Intelligence and thus making informed decisions.

WHAT IS ANALYTICS?

Analytics is the science & art of generating actionable insights from data with or without the use of statistical tools & techniques. It is known by various names viz. data mining, statistical modeling, business intelligence, decision sciences, operations research, etc. Essentially, it refers to the process of converting data into information and information into knowledge that is useful for business.

Today we can see that Businesses all over the world are depending more on computer systems to automate their processes. The data collected over the years is now proving to be a valuable resource. Decision making has become all the more challenging and institutions are realizing the importance of making informed decisions by using analytical tools and techniques.

Articles

Applying Analytics To Banking

Published on January 19, 2011

Few areas where analytics can be successfully applied in the Banking sector relates to Consumers, Marketing & Risk. Analytics begins & ends with data – (internal transactional data – for instance customer account data & externally available data – prime example being credit bureau data) and how it is interpreted.


Benefits From Analytics

Published on January 18, 2011
Here are few concrete examples of how banks have leveraged analytics to improve revenue & profitability. Concurrently, they have been able solve business problems & become more customer centric.

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