Financial and Operational Performance Management – Users can monitor the financial health of the organisation and create and share reports to comply with government and industry regulations.
Customer Profitability Management – Identify the most profitable customers and analyse buying behavior and preferences.
Profitability Management – Evaluate risk trends and forecast profitability using reliable data
Historical Analysis – The existence of a number of business critical dimensions over which the same transaction data could be analysed, makes this a fit case for multi-dimensional databases (hyper cube or ‘the cube’).
Customer Relationship Management (CRM) – CRM is at the centre stage of BI in banking which contains information of customers and describes relationships with sufficient detail so that management of the customer service improves and strong insights can be derived from analysing the data.
Big Data Analytics use cases in BFSI industry
- Customer Segmentation
- Risk Analysis
- Personalized product offering recommendation
- Real-Time fraud detection
- Faster go-to market time