Wednesday, June 21, 2017
A new tool to collect, process and immediately represent in graphical form all analytical data stored in the bank's information system
At the recent London conferences, Self-Service Banking Europe 2017 and ATM Cash & Innovation Europe 2017, we introduced to the market our new module in the omnichannnel WinWebServer (WWS) suite: WWS Business Analytics Management (WWS BAM). This tool helps extract and analyze great quantities of diverse data, derived from many sources, that can be aggregated and analysed in various ways, to produce insights of high strategic value to the company.
Big Data, if suitably exploited, becomes an important resource for discovering trends and correlations, which can inform the best business strategy for market growth. Big Data is aptly considered the new "digital black gold."
The volume of data that banks can work with is growing and diversifying rapidly. It’s estimated that banks should expect a sevenfold increase in the volume of customer data before 2020. The value from collecting, analysing and utilising insights from this data is considerable. A study by IBM and the University of Oxford revealed that 71% of financial institutions reported a competitive advantage from how they could run Big Data analytics.
To help banks benefit from customer data analytics, Auriga has created an "engine" that allows the extraction, collecting and processing of data stemming from all the bank's channels, in order to construct multidimensional analysis models and derive the information needed to identify trends or segmentations, as well as to monitor the KPIs of each business process.
WWS BAM can extrapolate a great quantity of data from all the business services offered by the bank (such as withdrawals, card top-ups, account statements or payments). Data can also be collected from all the retail channels that feed into the Data Warehouse platform (ATMs, ASDs/ASSTs, interactive kiosks, mobile devices, internet, and physical branch windows, as long as they are configured in the application), or from the specific operations that these generate. Based on the number of daily records, the latest data can easily be transferred on a regular basis. It is possible to set standard 24-hour update cycles or to reduce this time to fractions of an hour, so that the BAM database is always up-to-date.
Based on specific criteria and desired goals, this data can be collected and presented through clear graphics and reports on a dashboard designed for easy access and interpretation. Moreover, an intuitive and user-friendly interface allows even those without high-level technical skills to consult the analyses and make dynamic queries to transform data into value-added information.
We are happy to offer you a new solution that further enriches the WWS suite.
If you would like to know more details about the WWS BAM module please visit: http://www.aurigaspa.com/pdf/wws_bam_en.pdf.
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