A Large UK Bank Reduced Reporting Costs by 46% Using Automated Analytics Solution
Overview
A large UK bank faced challenges with manually stitching together reports and scorecards, limiting real-time data analysis. Coforge implemented an automated analytics solution using MicroStrategy, reducing dependency on multiple source systems and enabling centralized decision-making. This transformation led to significant cost reductions and improved data analysis capabilities.
The client faced significant challenges in their data reporting and analysis processes:
Manual Reporting: Reports and scorecards were manually created using Excel and presented in PowerPoint.
Limited Real-Time Analysis: Deeper data analysis was not possible in real-time.
Multiple Source Systems: Dependency on multiple source systems made data integration cumbersome.
Solution
Coforge implemented a comprehensive analytics solution:
Solution Highlights:
Automated Data Solution: Developed an automated solution using MicroStrategy, allowing users to drill, self-serve, and build analyses in an interactive environment.
Integrated System: Reduced dependency on multiple source systems by integrating data into one unified system.
Centralized Decision Making: Created interactive dashboards for centralized decision-making using MicroStrategy and a modernized enterprise data warehouse (EDW).
The Impact
Cost Reduction: Achieved a 46% cost reduction through improved analysis efficiency.
Data Integration: Consolidated data from seven source systems into one integrated system, providing a single version of the truth.
