Analysis of BI application in financial industry

Business intelligence is a means to improve enterprise intelligence, it can meet the needs of enterprise development, improve the competitiveness of enterprises. At the same time, to improve the financial industry risk management, improve the quality of external services can play a key role.

During market competition and banking transformation, business intelligence has played an important role in the improvement of business and internal management level, and business intelligence has become one of the choices of strategic transformation in the background of the large concentration of bank data. How to promote the development of business intelligence in the financial industry from two aspects of business and technology has been paid attention by the relevant people in the financial industry.

Application of Business Intelligence

Today's financial industry market is undergoing tremendous changes. The competition between banks is increasingly fierce, and interest rate marketization has become a trend. Faced with the pressure of "financial de-media", but also in order to continue to foothold in the market, commercial banks can only use to strengthen marketing, control the increasing risk, to ensure the growth of profits and sustainable development.

Through the implementation of the Data Warehouse system, commercial banks can realize the centralization and unification of account, customer and transaction data, realize market-oriented marketing, improve marketing means and efficiency, and reduce cost, while at the same time, it can strengthen customer loyalty and satisfaction.

Business intelligence is the choice of commercial banks to deal with market competition, which is close to the special choice of the industry and satisfies the development of commercial banks. The application of business intelligence is more and more widespread, it can meet the general Enterprise's customer relationship management, human resource management, performance management, etc., in other industries can also get preliminary application, especially in the financial industry.

The role of business intelligence

The financial industry is one of the first industries to introduce business intelligence. Business intelligence brings a lot of benefits to the financial industry.

(1) Business intelligence is the process of collecting, managing and analysing data, which can help decision-makers gain information and knowledge to assist senior leaders in making the right decisions.

(2) Business intelligence is composed of data Warehouse, data mart, mining and OLAP multidimensional Analysis, and the integration of bottom data to front end analysis is constructed by Finebi. Through its data analysis and the role of knowledge mining, to help commercial banks to improve internal management level and the ability to expand external business, enhance the bank's product innovation ability and ability to resist risk. At the same time, various risks can be alerted according to historical data.

(3) Commercial banks can quickly seize market opportunities and enhance their core competitiveness through business intelligence technology.

(4) Business intelligence can improve the service level of banks, create competitive financial products, and realize the maximization of profits.

(5) Through the Business intelligence technology, can help the commercial bank to manage the business process, realizes the various analysis. Through the construction of Data Warehouse, the basic information of customers to integrate, so that analysts from a number of angles to analyze the indicators.

(6) Through the Business intelligence technology, the commercial Bank can integrate various resources, can carry on the cost analysis and the control, including the performance analysis and the profit analysis. Through the evaluation and simulation of various market risks and customer credit risk, to achieve the value-added services of banks and customers personalized service.

Implementation measures in the financial sector

The implementation of business intelligence requires high-level leadership, the need to invest a lot of resources, but also need to combine the bank's strategic objectives, clear the focus of each stage.

In the implementation of the banking industry, the first need to business-oriented, clear business intelligence needs key, for the large-scale development of business intelligence to provide experience, while ensuring that in the short term can see results, enhance team building confidence.

In the early days of business intelligence construction, it was needed to understand the actual situation of the business, gradually develop the data warehouse, complete the OLAP and data mart infrastructure, and finally form a complete business intelligence architecture system.

Business intelligence is one of the means to improve the intelligence of banks, through the implementation of planning, targeted to solve the difficulties.

Analysis of BI application in financial industry