Change is unpredictable; competition is uncontrollable in every sector of business. Having business intelligence is significant to outperform competitors. But what is Business Intelligence? Business Intelligence refers to the technology that enables businesses to organize and analyze data in the company. Why is Business Intelligence important? Because business intelligence is fast and its data-informed decision-making can drive success to high customer expectations, global competition, and low-profit margin of an organization.
Business intelligence is
instrumental in the finance industry. This technology is used by most banking
and financial companies to develop new payment services and market offer to
customers. It also helps the company detect fraud and protect customers whose
card data may be compromised.
Landbank of the Philippines, a
financial institution which is one of the largest banks in the Philippines, a
commercial bank, a government-owned bank, and also the biggest lender to
farmers and fisher-folk cooperatives, rural banks, and local government units,
also using business intelligence in trust of its company’s success. The data
from the bank’s operational source system including deposits and loans can make
reports available for fast, accurate, and effective decision-making. The
research team can rely on this to analyze the clients’ historical transactions
and products used for new product development and promotion ideas.
Looking ahead, LANDBANK, with the
help of business intelligence, can cope with tighter banking regulations, able
to reduce risk, enhance decision support, strengthen its customer relationships,
and above all develop a competitive advantage among its competitors.
Source:
Landbank Increases Agility and Competitiveness at Lower Risk with Informatica. (2018). Informatica. Retrieved 08 March 2022 from https://www.informatica.com/content/dam/informatica-com/en/collateral/customer-success-story/landbank_customer-story_2644.pdf
No comments:
Post a Comment