Big Data and BI Analytics Platform
Maximize the value of customer data by leveraging Big Data analytics for customer retention and unlock the opportunities to drive top-line growth
A New Zealand based company who was acclaimed by the Gartner, offers a cloud based platform that provides the strategic business insights to global banks and enterprises across BFSI vertical in key data retrieval and providing business metrics through a number of widgets and KPIs.
The cloud based platform manages the online service providers (OSPs) through a single sign-on(SSO). Acting as a one stop shop, the platform provides business insights using dashboard widgets with a number of analytical reports and KPIs. Deployed in cloud, this platform acts a powerful media for SME OSPs serving F100 clients and number of financial institutions in ANZ and and Europe region.
By maximising the value from customer data, the platform benefits the enterprises to enhance lead generation potential; improve credit risk estimates in acquiring new customers; drive efficiency of marketing programmes and increase sales through predictive analysis and improves the customer satisfaction and limits the customer attrition.
Customer data from various online applications used by global banks typically resides in silos across lines of business or distributed across systems focused on specific functions such as portfolio management, CRM etc.
Increased customer interactions and data volumes from frequent use of web and mobile channels have further limited the insights to enhance the customer experience. Further, inflexible internal systems impede data integration and prevent them from generating a single view of the customers.
As such, many organisations across BFSI vertical lack a seamless 360° view of the customer data from various online business software used by them due to their organisational silos.
Under a dual onsite-offshore engagement, the client commissioned Covalense Global for re-architecture and development of their Big data and BI analytical platform that will assist in automatic of retrieval of data from different cloud business applications through variety of dashboards and KPIs for easy view and analysis. Covalense Global deployed a 20-member team consisting of enterprise and technical architects, developers, business analysts, developers and QA teams in this product development in a phased manner.
The BI and Big Data solution offered by Covalense Global has been developed with IBM tools, middleware and open source big data platform and is hosted in IBM Softlayer®. The solution addresses the huge volumes of heterogeneous data structures across the disparate business entities and normalise and process them to achieve desired analytical drilldowns in near real-time speed. The solution costs are minimised by optimally utilising physical data system architecture and infrastructure.
Due to stringent industry standards and benchmarks set for global BFSI enterprises, best bread technologies have been deployed with following features: