Business Intelligence (BI) refers to technology-driven processes and procedures for the systematic analysis of data and the practical conversion into usable insights. The goal of Business Intelligence is to present data in new, easily understandable ways to support decision-making in companies.
BI comprises numerous tools, applications and methods to collect and prepare data from internal and external systems. The results of analysis in the form of data visualizations, reports and dashboards provide the basis for well-founded and data-driven decisions and thus pave the way for more efficient business processes.
Financial institutions are facing increasing challenges due to increasing regulation, an ever more complex business environment and growing competition from the fintech sector. The increasing cost pressure as well as the ability to provide information on various issues in the shortest possible time require lean and efficient processes. Business Intelligence provides targeted solutions for the numerous challenges. BI tools, for example, help departmental employees to independently perform data analyses and create ad hoc reports. As a rule, such short-term requests cannot be mapped using standard IT processes. In risk management, BI solutions can be used to automate analyses and reporting or to optimize backtesting and model validation. In addition, the tools provide transparency with regard to data origin and data flows and can be used to optimize compliance or in anti-fraud management.
The areas of application are extensive and the offers are numerous. Nagler & Company is the optimal partner from the selection of the suitable tool to the implementation in your company. We maintain cooperations with leading software manufacturers in the field of Business Intelligence and are, among others, Celonis Partner, SAS Silver Partner and Tableau Alliance Partner. In addition to technical expertise, our team also has the necessary understanding of data modeling and the special regulatory requirements of data governance and IT infrastructure.
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