The paper "Banking Business Intelligence" is an outstanding example of business coursework. Maintaining competitive direct contact with an increasing number of customers in various banks is a vital idea that has to be fostered by any bank. As such, growing with a large number of channels oriented applications such as e-commerce, and customer communication centers are geared towards increasing the quality of service provided by various business firms. Data management is a fundamental tool that any bank has to embrace for easy retrieval upon request. Consequently, proper storage of data in any financial institution helps the managing team make informed decisions about various market demands.
Essentially, accurate data management leads to a successful way of integrating project applications in authentic time. In the recent past, data management in various banks has been a big challenge. Banks have lost crucial data and fraud transactions have been made in the various banks. Currently, the situation has been curbed since Business Intelligence plays a fundamental role in analysis and financial transactions tracking. The BI tools and systems are used by various banking companies to help improve the quality of service delivered to their respective clients.
In this regard, BI aids in constant customer connection since the systems operate online. Various clients from different banks can access services and products at their own conform. Automatic transactions have led to service quick delivery to various banks. The BI tools help in market predictions hence fostering a competitive market environment for various banks. As a result, this research report explores various concepts of BI, its component, benefits, factors that influence BI in banking and critical success factors that might influence the implementation of BI tools in banking.
The paper will outline an effective procedural recommendation that will lead to the later implementation and use of BI systems in banking. CHAPTER 1 1.0 Introduction Current bank's operations have various ways of responding to specific challenges that befall them. Essentially, banks are mostly affected by the problem of automation of services, increased number of clients, stiff completion from other competitive banks and acquisition of new products based on innovation and development (Bogdan & Emina, 2015).
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