Businesses today must be able to gather insight and comprehend the value from every customer interaction with your brand and here is where the BI & Analytics comes into picture.
BI (Business intelligence) is a technology-driven process for analysing data and gathering actionable information which helps in making informed business decisions through dashboards and predefined reports. Whereas, BA (Business Analytics) refers to the technologies, skills and practices for interactive and investigative analysis which are used to derive new insights and drive business planning.
Business intelligence and analytics both refer to using data to make better decisions. Business Analytics and Business Intelligence are broad terms covering all kinds of technologies and approaches and are often used interchangeably. Though the terms are different they both refer to the similar thing that is using data to solve problems.
Let's see what is the difference between business intelligence and analytics;
As the saying goes, "Data Never Dies". Every company understands the value of data gathering and analysis which helps in providing valuable insights. Business Analytics and Business Intelligence assists companies to make the right use of data to reach their goals and hence enhance data governance. We need to understand and gain a clearer and in-depth knowledge about business analytics and BI and its growing need in the banking and financial sector.
Keeping in mind the evolving nature of banking industry, there is a need for a dedicated BI and Analytics solution. This will empower banks and financial institutes to 'Measure, Monitor and Manage' their businesses goals, risks and growth and take right decisions with dashboards and advanced reporting features with deeper insights.
A BI and Analytics solution helps companies reach the right decision makers with actionable information. There is a growing need for BI Analytics solutions in banking and finance sector as in this industry you need to continuously monitor critical measures such as asset quality and risk exposure.
Analytics can provide assistance in various areas in banks ranging from fraud detection and prevention to risk management. It also gives a 360-degree view of customer information and helps in managing internal and external data flow.
Currently Business Analytics and BI sectors are advancing at a rapid pace, that is why companies are focusing more on investing in BI & analytics to make better business decisions and take it to the next level of growth and development.
The Meticulousness of efforts to ensure customer delight by each of the team member during the course of the project is appreciable. - Data Archival Project
Overall we are happy with the services provided by Nelito. The implementation team is sensitive to our support requirements and does a good job.
We are extremely thankful to the whole team who have devotedly committed and created this excellent database. Much of our time was wasted in data retrieval from i link where we were facing lots of issues.
You have given us an awesome product which is superior to our Finacle itself in its display capabilities. The great idea of taking pdf/word/excel option is simply superb. Merging the party code and Finacle CIF and account numbers are another feather in the cap.
We have successfully made Nelito's Fincraft Software for NBFC live in early March for LOS,LMS and Sanjiv Khalkho, Arijit Chakraborty with his team have been very instrumental in making this software live . I would like to appreciate on the turnaround time during the go live phase of the team in getting some of our key requirements done and helping our users to use the software for recording and disbursing all the sales from the software.
In technology side I would like to praise Pramod Navale and Ganesh Khetmalis for in depth knowledge of the product and their technical skills is outstanding. Looking forward for the continued relationship for our next release and whole of 2018.
"We are extremely pleased with the kind of support extended by you and your team for our year end work. Although whole bunch of people worked for making the support seamless from your end, my special thanks to following resources. Anurag, Arpit, Arvind, Pranit, Suraj, Udgran, Nilesh, Leena and Udgrand. Also, thanks to all others who have supported us directly or indirectly at your end."
"For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."
"The best mix of functionality and technological support and our vision of “Cash Less and Paper Less” work environment for Sonata has come true with our technological partner Nelito. I highly recommend FinCraft Core Microfinance platform and especially integrations with a number of third party services."
"We are happy to use FinCraft Data Archival & Retrieval solution from Nelito Systems; it has given huge ROI in terms of saving revenue by retiring legacy applications. We get all desired reports in a timely manner from the solution."
"Proactive & professionally supportive, technically skilled team."
"My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."
"Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."
"As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."
"Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."
Support services provided for Swift is really up to the mark and meets all clients requirement. Kindly keep this ongoing.