BI report out for information-hungry execs
Executives can gain visibility into the dynamics of the retail banking business intelligent market in this report by Research and Markets on Business Intelligence in Retail Banking.
Research and Markets, the world’s largest and leading source for international market research and market data, recently announced the release of their report on Business Intelligence in Retail Banking (Strategy Focus).
The report, targeted towards the banking industry, allow executives to gain visibility into the dynamics of the retail banking business intelligence market, at the same time increase market insight to assist in strategic planning.
Forecasting a 7% growth in global retail banking business intelligence IT spending from 2006 till 2012, Research and Market indicates that a growing amount of data on diverse sources, together with constant regulatory changes and growing technological capabilities, are making financial institutions more aware of the need to support more formalized performance and risk management, financial analysis, and customer intelligence systems.
Banks must align intelligent technology with data management techniques in order to improve their decision-making processes, the report said.
The report, which also covers the banking industry in Western Europe, Central and Eastern Europe, North America, Asia-Pacific and the Middle East, scrutinizes strategic and technology drivers impacting the retail banking industry’s business intelligence technology investments.
With a growing number of information-hungry executives, the report said, banks must now take advantage of the potentials of current business intelligence techniques, most especially in areas such as customer intelligence, performance management, financial analysis, fraud detection, risk management, and compliance.
BI has come a long way from its origins in the early decision support systems. It is currently in charge of turning transactional data into actionable information and delivering reports to an ever-growing number of information-hungry executives and managers across all lines of business.
The value of information decays over time, therefore the real-time ability is promoting business intelligence tools from their status as decision support applications into the domain of decision automation.
