Cost-Effective Business Intelligence Solution for Financial Services
Case Studies
Challenges & Solutions
Technical Environment
Results
Executive Summary
Client
Insurance Management Group
Industry
Banking, Financial Services, & Insurance
Business Problem
The customer sought to provide dashboards to their executives to monitor business performance effectively. Data distributed across various sources needed to be validated before generating the necessary reports and dashboards. KPIs identified as part of business goals were to be derived using existing data assets and presented. Additionally, the software licenses for Tableau were to be effectively utilized.
Outcome
- Defined KPIs: Established clear KPIs and calculation methods for accurate reporting.
- Enhanced Reporting: Built data marts and deployed efficient reports and dashboards.
- Automated Processes: Reduced errors and increased efficiency with automated procedures.
- Improved Data Quality: Ensured accurate data through automated quality checks.
- Consolidated Data: Created a master data repository, eliminating duplication.
Challenges
- Data was distributed across various database systems.
- Data quality was a concern.
- Full-fledged BI implementation was not within the current scope.
- Software licenses were under-utilized.
- Data islands existed.
- There were no consolidated reports or dashboards for business monitoring.
- Manual procedures were required to prepare datasets for reporting.
Solutions
- Identified the KPIs to be reported, their calculation methods, and sources.
- Built the necessary data marts to fulfill reporting and dashboard requirements using existing Microsoft SQL Server licenses.
- Developed and deployed reports and dashboards as specified by the customer.
- Automated manual procedures using T-SQL procedures, functions, triggers, and other methods.
- Addressed data quality concerns through automated procedures before loading data into the data marts.
- Built a master data repository using existing software licenses and eliminated data duplication.
Technical Environment
- Microsoft SQL server with SQL & TSQL
- Tableau
- Python
Results
- 0 Investment on software & hardware
- Number of KPIs increased from 250+ to 3200+
- Dashboards update rate is brought down to 15+ minutes from days