BANKING
How COVID-19 has affected BI
Dima Kats , Clear Junction CEO , believes the pandemic has driven forward BI practices . He explains , “
Smaller businesses have expanded their use of business analytics , with the general use of BI tools dramatically increasing in the past year . As consumers shifted to digital and online channels , companies responded in turn .
In fact , 80 % of customers interactions are now digital in nature . By adopting more BI tools , banks have shifted processes away from their physical offices and kept employees at home . Simultaneously , their data and business activity remain visible and trackable , and customer service and experience remain high .”
and-play insights , tools like Power BI and Tableau are great options .”
Elena Zenina , Chief Innovation Officer at ImageNPay , concurs . “ There is a whole suite of tools all playing their part in delivering business intelligence . First of all , data integration tools enable us to gather , process and transport business critical data to data marts and warehouses . Following that , we can utilise various data mining , modelling and prediction tools to provide meaningful insight on business operations .
“ Data visualisation tools help us to bring this insight to life , and demonstrate the value to the business in a user friendly manner . As the complexity of the programme is growing , we focus on marketing automation , while keeping open a test-and-learn policy .”
New BI trends According to Gartner , by 2023 , augmented data management will reduce the reliance on IT specialists for repetitive and lowimpact data management tasks , thereby freeing up to 20 % of their productive time for collaboration , training and high-value data management tasks .
This shift in the BI sector will continue to trend as more effective analytics modelling and data presentation is developed . Lieberman points out , “ We are starting to see an increased trend in “ automated
76 May 2021