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Why BI is important for
C-Level Executives in
BFSI
www.datatobiz.com
www.datatobiz.com
Business Intelligence is a technology-based process used by business organizations to
collect, clean, store, streamline, and analyze large volumes of data in real-time.
Business intelligence delivers high-quality and accurate insights used to make
business decisions. Data mining (collecting data from multiple sources), predictive
analytics, and data visualizations (reporting) are an integral part of the business
intelligence process.
There are several BI tools in the market. For example, Microsoft Power BI and
Tableau are well-known tools for business intelligence processes in various industries.
The BFSI industry relies on Power BI for financial, operational, and marketing
purposes. This certainly doesn’t mean that BI is only limited to the banking and
finance sector. Let’s look at some of the benefits of using business intelligence in
banking and financial companies.
What is Business Intelligence?
www.datatobiz.com
Business intelligence helps optimize customer relationship management by
providing deeper insights into customer behavior and preferences. BI tools run
analytics for the marketing budget, customer response, potential leads, the
success of the campaign, and so on.
Profitability is another benefit of using BI tools in the financial sector. Having the
latest information about customers will help you create better strategies to
attract them to your establishment.
Dealing with competition is yet another aspect banks and insurance companies
have to worry about. With so many institutions entering the market, it is vital to
understand what you want to achieve and how.
Benefits of BI Tools
www.datatobiz.com
Real-Time Reporting
Omnichannel Customer Insights
Collaborations
Automate Customer Engagement
Predict Customer Demands
Root Cause Analytics
Convince the Team
Risk Mitigation
Better Customer Relationship
Why BI is Important for C-Level
Executives in BFSI
www.datatobiz.com
Access to Clean Data
Data Visualization
Identify Weak Points
Performance Management
Building an Agile Establishment
What is the Role of BI in Finance?
www.datatobiz.com
Read the full article


https://www.datatobiz.com/blog/why-bi-
is-important-for-c-level-executives-in-bfsi/
www.datatobiz.com

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Why BI is important for C-Level Executives in BFSI

  • 1. Why BI is important for C-Level Executives in BFSI www.datatobiz.com www.datatobiz.com
  • 2. Business Intelligence is a technology-based process used by business organizations to collect, clean, store, streamline, and analyze large volumes of data in real-time. Business intelligence delivers high-quality and accurate insights used to make business decisions. Data mining (collecting data from multiple sources), predictive analytics, and data visualizations (reporting) are an integral part of the business intelligence process. There are several BI tools in the market. For example, Microsoft Power BI and Tableau are well-known tools for business intelligence processes in various industries. The BFSI industry relies on Power BI for financial, operational, and marketing purposes. This certainly doesn’t mean that BI is only limited to the banking and finance sector. Let’s look at some of the benefits of using business intelligence in banking and financial companies. What is Business Intelligence? www.datatobiz.com
  • 3. Business intelligence helps optimize customer relationship management by providing deeper insights into customer behavior and preferences. BI tools run analytics for the marketing budget, customer response, potential leads, the success of the campaign, and so on. Profitability is another benefit of using BI tools in the financial sector. Having the latest information about customers will help you create better strategies to attract them to your establishment. Dealing with competition is yet another aspect banks and insurance companies have to worry about. With so many institutions entering the market, it is vital to understand what you want to achieve and how. Benefits of BI Tools www.datatobiz.com
  • 4. Real-Time Reporting Omnichannel Customer Insights Collaborations Automate Customer Engagement Predict Customer Demands Root Cause Analytics Convince the Team Risk Mitigation Better Customer Relationship Why BI is Important for C-Level Executives in BFSI www.datatobiz.com
  • 5. Access to Clean Data Data Visualization Identify Weak Points Performance Management Building an Agile Establishment What is the Role of BI in Finance? www.datatobiz.com
  • 6. Read the full article https://www.datatobiz.com/blog/why-bi- is-important-for-c-level-executives-in-bfsi/ www.datatobiz.com