{"id":2411,"date":"2018-04-18T17:10:08","date_gmt":"2018-04-18T22:10:08","guid":{"rendered":"https:\/\/opsdog.com\/resources\/?p=2411"},"modified":"2020-05-18T16:57:41","modified_gmt":"2020-05-18T21:57:41","slug":"the-importance-of-business-intelligence-in-banking-in-cutting-costs","status":"publish","type":"post","link":"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/","title":{"rendered":"How to cut costs and increase standardization\u2014thanks to business intelligence in banking"},"content":{"rendered":"

We see it all too often. Banks struggle with\u2014\u201cdrown in\u201d?\u2014messy data. They struggle to deal with it. So, they throw Excel sheet after Excel sheet at the problem. Why? They want to report as much as they can. And they miss the importance of business intelligence in banking.<\/p>\n

Does this help? Does it solve the problem?<\/p>\n

Of course it doesn\u2019t! You knew that. But it still happens. It leads to long hours. High costs. Lots of people working on lots of reports\u2014all of questionable value.<\/p>\n

How, then, do you solve this problem? That\u2019s the topic of this blog!<\/p>\n

\"ultimate-guide-of-benchmarks-for-banks\"<\/a><\/h2>\n

How to cut costs with business intelligence in banking<\/strong><\/h2>\n

One of the main benefits of business intelligence in banking comes in the form of dashboards. Clear, clean, beautiful, and efficient dashboards. Properly implemented, these can help you pull in data from multiple platforms. And you can see the results all from one spot\u2014like that chair you\u2019re sitting in right now.<\/p>\n

Here\u2019s how we tackle projects like this at OpsDog. When we work on business intelligence in banking, we\u2019ll create a single repository. Our clients (read: \u201cYou\u201d) access it online, using a unique log-in that you can share with appropriate team members. In fact, it\u2019s easy to configure who-gets-to-see-what. But the important thing is, whatever you\u2019re allowed to see, it\u2019s all coherent. It all matches. It all matters.<\/em> That\u2019s because it\u2019s all based on an analysis of the same good, clean data! It is\u2014drum roll, please\u2014The Truth.<\/p>\n

Once you have this, you\u2019re set. It\u2019s then relatively easy to generate automated reports. They\u2019re fast. They\u2019re gorgeous. They\u2019re accurate. And they\u2019re useful, too. That\u2019s one of the biggest benefits of business intelligence in banking.<\/p>\n

\u00a0\"A<\/a><\/strong><\/h2>\n

Process standardization via business intelligence in banking<\/strong><\/h2>\n

Data is not the only thing we streamline. Oh, no. Business intelligence in banking requires more than that. When working on a KPI-driven project, we\u2019ll often find that banks can miss key opportunities for standardizing work.<\/em> In a word, ouch.<\/em><\/p>\n

But the importance of business intelligence in banking comes to the rescue. It lets you turn a fresh eye toward the problem. It makes the inconsistencies easier to spot.<\/p>\n

How, then, do you take advantage of the benefits of business intelligence in banking? Look at the data. It will shine the light on opportunities for process standardization. These can take different forms. But you need to look at, and measure, the right things. You can\u2019t harness the power of business intelligence in banking without KPIs that matter to the business overall. In other words, you need to cast the proper net.<\/p>\n

We recently worked with a major bank on a business intelligence in banking project just like that. Our team got a look at their data. We measured it against the vital KPIs. And sure enough, we found opportunities for them to improve operations via process and data standardization. This included everything from entire core business-unit processes to standardizing forms at the front-line level.<\/p>\n

The results were powerful. And the importance of business intelligence in banking resonated throughout the enterprise.<\/p>\n

Business intelligence in banking can open a lot of doors for improvement. Let OpsDog help. Check out our banking-specific KPIs<\/a>, ready for inexpensive purchase and instant download. Or learn about our custom services<\/a>. Contact us today<\/a> to get started.<\/p>\n","protected":false},"excerpt":{"rendered":"

We see it all too often. Banks struggle with\u2014\u201cdrown in\u201d?\u2014messy data. They struggle to deal with it. So, they throw Excel sheet after Excel sheet at the problem. Why? They want to report as much as they can. And they miss the importance of business intelligence in banking. Does this help? Does it solve the […]<\/p>\n","protected":false},"author":9,"featured_media":2514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[214,231,233,232],"yoast_head":"\nThe Importance of BI in Banking in Cutting Costs and More - OpsDog<\/title>\n<meta name=\"description\" content=\"We see banks struggling with messy data all too often and miss the importance of business intelligence in banking. That's one of the problems we solve for them.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Importance of BI in Banking in Cutting Costs and More - OpsDog\" \/>\n<meta property=\"og:description\" content=\"We see banks struggling with messy data all too often and miss the importance of business intelligence in banking. That's one of the problems we solve for them.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/\" \/>\n<meta property=\"og:site_name\" content=\"OpsDog\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-18T22:10:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T21:57:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/opsdog.com\/resources\/wp-content\/uploads\/2018\/04\/Importance-of-Business-Intelligence-in-Banking-Featured-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5472\" \/>\n\t<meta property=\"og:image:height\" content=\"3648\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chris Wilds\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/opsdog.com\/resources\/#organization\",\"name\":\"OpsDog\",\"url\":\"https:\/\/opsdog.com\/resources\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/opsdog.com\/resources\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/opsdog.com\/resources\/wp-content\/uploads\/2017\/02\/opsdog-logo.png\",\"contentUrl\":\"https:\/\/opsdog.com\/resources\/wp-content\/uploads\/2017\/02\/opsdog-logo.png\",\"width\":287,\"height\":100,\"caption\":\"OpsDog\"},\"image\":{\"@id\":\"https:\/\/opsdog.com\/resources\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/opsdog.com\/resources\/#website\",\"url\":\"https:\/\/opsdog.com\/resources\/\",\"name\":\"OpsDog\",\"description\":\"Insights on KPIs, Benchmarks & More\",\"publisher\":{\"@id\":\"https:\/\/opsdog.com\/resources\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/opsdog.com\/resources\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/opsdog.com\/resources\/wp-content\/uploads\/2018\/04\/Importance-of-Business-Intelligence-in-Banking-Featured-Image.jpg\",\"contentUrl\":\"https:\/\/opsdog.com\/resources\/wp-content\/uploads\/2018\/04\/Importance-of-Business-Intelligence-in-Banking-Featured-Image.jpg\",\"width\":5472,\"height\":3648,\"caption\":\"The importance of business intelligence in banking can't be overstated.\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/#webpage\",\"url\":\"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/\",\"name\":\"The Importance of BI in Banking in Cutting Costs and More - OpsDog\",\"isPartOf\":{\"@id\":\"https:\/\/opsdog.com\/resources\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/opsdog.com\/resources\/the-importance-of-business-intelligence-in-banking-in-cutting-costs\/#primaryimage\"},\"datePublished\":\"2018-04-18T22:10:08+00:00\",\"dateModified\":\"2020-05-18T21:57:41+00:00\",\"description\":\"We see banks struggling with messy data all too often and miss the importance of business intelligence in banking. 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