Banking Analytics Tools
Banking Analytics Solutions by SageData
The role of banking analytics in the banking industry
Banking analytics are becoming incredibly useful for small and large bank decision-making processes as they can improve business performance. They make the impossible possible – predict trends before they happen and isolate patterns. It can have an enormous impact on a bank’s business strategy and decision-making.
Modern technologies create more and more new ways for consumers to utilize financial services and products. They can now use banking services any minute, regardless of their location or time zone.
As a result, the banking industry faces enormous amount of data daily. It is where banking analytics can help sort all of this data and make it understandable.
How can Sagedata’s banking analytics power help your business thrive?
With SageData you have a team of professionals with more than 20 years of experience. We provide personalized and entirely customized solutions tailored to your business-specific needs.
Data analytics in banking is applied for credit risk, performance, rate, marketing, and security. Imagine being able to predict and reduce any delinquencies. To identify behavioural trends of customers – are they paying on time, or are they using their credit cards regularly? You can even find low credit risk customers.
An important role of customer analytics in banking is to give a good understanding of customer needs. See what services your customers choose, what services they give up, and what services they might be interested in.
Besides customer analytics, our banking analytics service can also help with fraud prevention, cross-selling financial products and services, identifying and acquiring new customers, and more.
All your information is stored in a specifically created and tailored to your needs Data Warehouse. And you still own all your data – you keep complete ownership of it.
We can help with a variety of options to segment and find hidden patterns like users data analytics and data management to improve:
- organizational performance;
- risk management;
- profitability;
- performance;
- security;
- marketing.
SagaData is the easy way to adopt and adapt all this data and make it work for you!
To learn more about our banking analytics tool or test the complete SageData experience for free, click here and register!
How BI Tool Works
Successfully developed Business Intelligence Solutions go through three separate stages. Those are Data Collection and development of Data Warehouse, Data Manipulation and Data Visualisation.
Data Collection
The first thing that happens when you start building a Business Intelligence, is that you connect all of the data sources for your business to your own Data Warehouse where you collect and store all of your data.
Data Manipulation
During this stage, all previously collected data gets analyzed. The analysis process consists of many other smaller subprocesses, like Cohort Analysis, Data science, Anomaly Detection and many more.
Data Visualization
Our software provides you with graphs, histograms and other visual elements that make any report aesthetically pleasing, and easily-digestible, eliminating possibility for errors or misinterpretation of certain data.
Frequently Asked Questions
While Business Intelligence uses both past and current data, Business Analytics focuses more on past data only. Business Intelligence helps you run all your current operations, while Business Analytics is trying to change business operations for the better, to improve productivity and to predict possible outcomes.
There are three different types, or stages, of any Business Analytics Tool. Those are:
- Descriptive Analytics – Uses KPIs to give you an idea of the current state of your business;
- Predictive Analytics – Tries to predict future actions based on historical data;
- Prescriptive Analytics – Shows you the best actions that can be taken for a given situation.
Relying on our Business Analytics Tool you get solutions on how to improve your business operations, and how to become better at what you are doing. It also saves you a lot of time as it analyzes all the Data automatically, so you won’t have to. Not only that, but it also provides you with quality reports that are visually pleasing and easily comprehensible for anyone who reads them.
Yes! Every business, no matter its niche or its size, can benefit from having a reliable Business Analytics Tool. Small Businesses and startups usually have limited budgets and limited capacities, so they need all the additional help they can get. Business Analytics Tools can help your business perform better and save you money in the long run.