What exactly is financial BI? Why are all financial peers discussing this!

Recently, I met with several friends in the financial industry, and the word "financial BI" was the most frequently heard! This can touch my blind spot of knowledge. What is financial BI?

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My friend explained to me that BI business intelligence is a means and tool to improve the intelligence of enterprises, which can not only meet the needs of enterprise development, but also improve the competitiveness of enterprises. Finance is one of the industries that introduced business intelligence earlier. Even in China, where enterprise informatization started late, many financial enterprises have relatively perfect business processing systems, which realize the centralization of business data and provide a foundation for the implementation of business intelligence projects.

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When I heard this, I probably knew the use of financial BI. However, in the financial industry where information technology is relatively mature, why is financial BI so tight that everyone is scrambling to get it?

Manager Zhang of the customer department of a bank began to complain that it was too much trouble for us to report before! Every report must first notify the IT department responsible for creating the report. But even the simplest report has to wait for as little as a week and as much as a month! The new business of rival banks has been launched, and their decision is still waiting for the report as the basis.

Liu Jingli, the IT department of another bank, also said that they had been complained about similar problems. After all, the traditional BI solution, regardless of the implementation cycle, system scalability, query performance optimization and so on. , it will put forward high requirements for the design specification of data source, and the implementation cycle itself is very long. Massive data analysis and report requests from various departments often require skilled personnel to be busy for a long time ... More importantly, the task of IT departments is not only to create reports for business departments, but also to deal with all kinds of work. What can be done?

Another IT manager echoed: BI solutions have been implemented a lot, but before they were implemented, manufacturers made all kinds of hype, and as a result, they spent a lot of money on consulting, procurement, deployment and training. Why did all the benefits mentioned at the beginning get discounted? The money was spent, but both IT and business users felt dissatisfied. How frustrating it is. ...

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Minister Wang of investment bank began to popularize "financial self-help BI" for everyone: "The problems that everyone faces are actually common problems in our financial industry. With the launch of various business systems, a steady stream of data has been generated. BI is an effective solution to make good use of these data, but problems such as product cost, implementation cycle, labor cost and service response cycle have been plaguing many people, including financial institutions. "

"At this time, we need to change our thinking, from" IT-led report mode "to" business-led self-service analysis mode ",and choose a self-service BI tool that business personnel can quickly and independently complete the analysis and obtain the required data, so that business personnel can easily learn to do analysis. For example, our company recently launched the Smartbi one-stop big data analysis platform. The user interface is simple and easy to use, and it can also widely support various data sources. Interactive analysis and visual display can be performed intuitively. The grassroots employees of our company can basically operate, and more importantly, they really understand the business reason behind our data analysis! "

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For financial institutions, in order to realize the expected return on investment of business intelligence investment, it is necessary to reverse the current mode of data system and provide employees with appropriate information in time to help them analyze, evaluate and cope with changing market conditions, thus promoting performance growth.

With the help of Smartbi, ordinary business users can gain insight from any data through simple and intuitive operation, re-recognize the essence of the business world through data analysis and mining, continuously gain competitive advantage, provide a basis for business decision-making, and successfully complete the goal of digital transformation.