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Understanding Big Data with Business Intelligence ToolsAnalytics Help Leverage Your Massive Amounts of Information
Big data is a hot topic in a variety of industries these days Major
retailers know how to use it and larger financial institutions
also are figuring out how to leverage mass quantities of data to
increase their bottom line
An organizationrsquos data is a veritable goldmine but you canrsquot
really benefit from it without the power of analytics increasingly
known as business intelligence (BI) tools This white paper
examines the various ways in which financial institutions can
use BI solutions to increase profitability reduce costs and
provide each customer an individualized experience
Business Intelligence solutions give financial institutions the ability to translate their available data
into actionable business decisions and make it possible to use the information they already hold to
better recognize customers at a personal level and bring them a targeted individualized experience
BI tools can empower your strategies of engaging account holders and delivering their needs Their
data analytics functions allow financial institutions of any size to reach and obtain information from
different channels and silos as illustrated in these banking examples One of Italyrsquos largest financial
institutions Banca Carige utilizes analytics to support an improved understanding of customer-
centricity and to launch new mobile services that engage and retain customers and Bank of America
uses transaction and propensity models to determine which customers have a credit card or
mortgage that could benefit from refinancing then makes an offer when the customer contacts the
bank through online call center or branch channels
ldquoWhen I think of business intelligence for community banks itrsquos taking the data that exists out of
all your systems and using it to its fullest potentialrdquo says Carl Snyder director of Industry Value
Engineering US Banking for SAP a business analytics market leader ldquoUltimately why that even
matters is that itrsquos about providing a unique and differentiating experience to each of your customers
by proactively delivering their expectationsrdquo
Emerging Trends in Big DataInvestment in big data technologies continues to expand according to Gartnerrsquos most recent
big data survey1 in which 73 percent of respondentsmdashcomprising 300 members of the Gartner
Research Circlersquos core of IT and business leadersmdashhave invested or plan to invest in business
intelligence solutions in the next two years up from 64 percent in 2013 The survey also indicates
that organizations are coming off the fence about their big data options the number of organizations
stating they had no plans for big data investment fell from 31 percent in 2013 to 24 percent in
2014 Finally the results show that the most dramatic changes stemming from BI tools in various
industries have centered on enhancing the customer experience
2
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
Gartner survey reveals73 have or will invest in BI solutions in next two years Up from 64 in 2013
And thatrsquos key because service is an important differentiator in the financial industry according to
the JD Power 2014 US Retail Banking Satisfaction Study2 which reported that poor service drove
many customers to change financial institutions and that many banks are misfiring with selected
segments of account holders including Millennials who desire immediate resolution as well as more
personalized service and information
BI tools can help in this area by generating new
opportunities for banks to bolster marketing
and service efforts Frequently consumers
employ a blend of channelsmdashincluding brick and
mortar smartphones tablets PCs and social
mediamdashto engage banks But how many banks
recognize a customer trail when the relationship
crosses channels Do banks know for example
if customers start a HELOC search via mobile
phone and then complete it on a different
channel This data plays a vital role in defining
an integrated marketing and service strategy
Turning Data into Business Practices that Serve All Types of CustomersTodayrsquos consumers particularly Millennials
have a different view of banking They donrsquot
compare their encounters with Bank ldquoArdquo against
those with Bank ldquoBrdquo but instead weigh their
banking experiences against those they receive
at for example Southwest Airlines or Amazon
Millennials still reach out to banks but more so
to gain financial advice which is forcing branches
to transform to some extent from transactional
areas to consultative centers And using
analytics financial institutions can answer their
complex questions by accessing a variety of data
3
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
4
Further banks want to know who their most
profitable customers are as well as the types
of products and services they most utilize With
BI tools financial institutions neednrsquot become
experts in creating data analytics models that
draw out this information The solutions can pull
this data together and create detailed reports
on such topics as spending patterns from debit
cards loan prepayment speeds and deposit
decay rates The reports also can provide cross-
application research capabilities that track
patterns across the board to compare DDA and
loans data for example in robust detail
And advanced BI tools give banks the ability to
unlock their dark data which Gartner describes
as ldquoinformation assets that organizations collect
process and store in the course of their regular
business activity but generally fail to use for
other purposesrdquo
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
WITH ADVANCED BI SOLUTIONS FINANCIAL INSTITUTIONS CAN
Produce advanced ad-hoc and cross-application reports
Utilize dynamic search tools and save and share tailored
reports
Obtain ldquodeep diverdquo reports
Capture high-level summaries of data through visual representations that show at-a-glance
views of daily and monthly activities and trends
Gain secure access to information anywhere
anytime via PC or tablet devices
Research shows the value of data analytics solutions for financial institutions What BI tools do you currently use
And there are numerous practical applications for BI tools
bull Utilize Customer Analytics It is progressively more challenging for financial institutions to turn all that data into genuine customer intelligence and even more difficult for banks to determine how they should respond and do things differently In years past simply measuring activity on a financial institutionrsquos website was enough like page views unique visitors time on site and exit pages With BI solutions there is enough accessible information to draw a holistic customer profile that includes acquisition engagement and retention across all digital channels
bull Detect and Prevent Fraud Through analytics banks can better detect fraud and money-laundering patternsmdashin real timemdashby looking across customersrsquo transactional information to spot and flag unusual activity
bull Set Deposit Rates You can improve your ability to make pricing decisions that will help your institution get and keep deposits by combining BI software with your own historical data and insight
bull Use ldquoWhat Ifrdquo Illustrations You can create ldquowhat ifrdquo scenarios for a variety of data-driven decisions For example a bank could determine how its bottom line would be affected if 10 percent of its loans defaulted It also could perform an analysis of its branches to determine when teller lines are busiest and staff branches accordingly or analyze whether a certain type of loan is likely to helpmdashor hurtmdashcost-to-income ratios
bull Perform Continual Stress Testing Regulators want institutions to demonstrate an awareness of their portfolios to ensure that no single area takes up too high a concentration Analytics enable stress testing to occur continuously across the organization ensuring greater efficiency and reducing risks well beyond the intermittent stress test
bull Develop a Data-Driven Culture A Celent 2013 report How Big is Big Data Big Data Usage and Attitudes Among North American Financial Services Firms3 found that establishing a data-driven culture means you can look at your acquired information objectively and make decisions based on the datamdashrather on history or intuition
5
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
Business Intelligence solutions give financial institutions the ability to translate their available data
into actionable business decisions and make it possible to use the information they already hold to
better recognize customers at a personal level and bring them a targeted individualized experience
BI tools can empower your strategies of engaging account holders and delivering their needs Their
data analytics functions allow financial institutions of any size to reach and obtain information from
different channels and silos as illustrated in these banking examples One of Italyrsquos largest financial
institutions Banca Carige utilizes analytics to support an improved understanding of customer-
centricity and to launch new mobile services that engage and retain customers and Bank of America
uses transaction and propensity models to determine which customers have a credit card or
mortgage that could benefit from refinancing then makes an offer when the customer contacts the
bank through online call center or branch channels
ldquoWhen I think of business intelligence for community banks itrsquos taking the data that exists out of
all your systems and using it to its fullest potentialrdquo says Carl Snyder director of Industry Value
Engineering US Banking for SAP a business analytics market leader ldquoUltimately why that even
matters is that itrsquos about providing a unique and differentiating experience to each of your customers
by proactively delivering their expectationsrdquo
Emerging Trends in Big DataInvestment in big data technologies continues to expand according to Gartnerrsquos most recent
big data survey1 in which 73 percent of respondentsmdashcomprising 300 members of the Gartner
Research Circlersquos core of IT and business leadersmdashhave invested or plan to invest in business
intelligence solutions in the next two years up from 64 percent in 2013 The survey also indicates
that organizations are coming off the fence about their big data options the number of organizations
stating they had no plans for big data investment fell from 31 percent in 2013 to 24 percent in
2014 Finally the results show that the most dramatic changes stemming from BI tools in various
industries have centered on enhancing the customer experience
2
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
Gartner survey reveals73 have or will invest in BI solutions in next two years Up from 64 in 2013
And thatrsquos key because service is an important differentiator in the financial industry according to
the JD Power 2014 US Retail Banking Satisfaction Study2 which reported that poor service drove
many customers to change financial institutions and that many banks are misfiring with selected
segments of account holders including Millennials who desire immediate resolution as well as more
personalized service and information
BI tools can help in this area by generating new
opportunities for banks to bolster marketing
and service efforts Frequently consumers
employ a blend of channelsmdashincluding brick and
mortar smartphones tablets PCs and social
mediamdashto engage banks But how many banks
recognize a customer trail when the relationship
crosses channels Do banks know for example
if customers start a HELOC search via mobile
phone and then complete it on a different
channel This data plays a vital role in defining
an integrated marketing and service strategy
Turning Data into Business Practices that Serve All Types of CustomersTodayrsquos consumers particularly Millennials
have a different view of banking They donrsquot
compare their encounters with Bank ldquoArdquo against
those with Bank ldquoBrdquo but instead weigh their
banking experiences against those they receive
at for example Southwest Airlines or Amazon
Millennials still reach out to banks but more so
to gain financial advice which is forcing branches
to transform to some extent from transactional
areas to consultative centers And using
analytics financial institutions can answer their
complex questions by accessing a variety of data
3
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
4
Further banks want to know who their most
profitable customers are as well as the types
of products and services they most utilize With
BI tools financial institutions neednrsquot become
experts in creating data analytics models that
draw out this information The solutions can pull
this data together and create detailed reports
on such topics as spending patterns from debit
cards loan prepayment speeds and deposit
decay rates The reports also can provide cross-
application research capabilities that track
patterns across the board to compare DDA and
loans data for example in robust detail
And advanced BI tools give banks the ability to
unlock their dark data which Gartner describes
as ldquoinformation assets that organizations collect
process and store in the course of their regular
business activity but generally fail to use for
other purposesrdquo
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
WITH ADVANCED BI SOLUTIONS FINANCIAL INSTITUTIONS CAN
Produce advanced ad-hoc and cross-application reports
Utilize dynamic search tools and save and share tailored
reports
Obtain ldquodeep diverdquo reports
Capture high-level summaries of data through visual representations that show at-a-glance
views of daily and monthly activities and trends
Gain secure access to information anywhere
anytime via PC or tablet devices
Research shows the value of data analytics solutions for financial institutions What BI tools do you currently use
And there are numerous practical applications for BI tools
bull Utilize Customer Analytics It is progressively more challenging for financial institutions to turn all that data into genuine customer intelligence and even more difficult for banks to determine how they should respond and do things differently In years past simply measuring activity on a financial institutionrsquos website was enough like page views unique visitors time on site and exit pages With BI solutions there is enough accessible information to draw a holistic customer profile that includes acquisition engagement and retention across all digital channels
bull Detect and Prevent Fraud Through analytics banks can better detect fraud and money-laundering patternsmdashin real timemdashby looking across customersrsquo transactional information to spot and flag unusual activity
bull Set Deposit Rates You can improve your ability to make pricing decisions that will help your institution get and keep deposits by combining BI software with your own historical data and insight
bull Use ldquoWhat Ifrdquo Illustrations You can create ldquowhat ifrdquo scenarios for a variety of data-driven decisions For example a bank could determine how its bottom line would be affected if 10 percent of its loans defaulted It also could perform an analysis of its branches to determine when teller lines are busiest and staff branches accordingly or analyze whether a certain type of loan is likely to helpmdashor hurtmdashcost-to-income ratios
bull Perform Continual Stress Testing Regulators want institutions to demonstrate an awareness of their portfolios to ensure that no single area takes up too high a concentration Analytics enable stress testing to occur continuously across the organization ensuring greater efficiency and reducing risks well beyond the intermittent stress test
bull Develop a Data-Driven Culture A Celent 2013 report How Big is Big Data Big Data Usage and Attitudes Among North American Financial Services Firms3 found that establishing a data-driven culture means you can look at your acquired information objectively and make decisions based on the datamdashrather on history or intuition
5
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
And thatrsquos key because service is an important differentiator in the financial industry according to
the JD Power 2014 US Retail Banking Satisfaction Study2 which reported that poor service drove
many customers to change financial institutions and that many banks are misfiring with selected
segments of account holders including Millennials who desire immediate resolution as well as more
personalized service and information
BI tools can help in this area by generating new
opportunities for banks to bolster marketing
and service efforts Frequently consumers
employ a blend of channelsmdashincluding brick and
mortar smartphones tablets PCs and social
mediamdashto engage banks But how many banks
recognize a customer trail when the relationship
crosses channels Do banks know for example
if customers start a HELOC search via mobile
phone and then complete it on a different
channel This data plays a vital role in defining
an integrated marketing and service strategy
Turning Data into Business Practices that Serve All Types of CustomersTodayrsquos consumers particularly Millennials
have a different view of banking They donrsquot
compare their encounters with Bank ldquoArdquo against
those with Bank ldquoBrdquo but instead weigh their
banking experiences against those they receive
at for example Southwest Airlines or Amazon
Millennials still reach out to banks but more so
to gain financial advice which is forcing branches
to transform to some extent from transactional
areas to consultative centers And using
analytics financial institutions can answer their
complex questions by accessing a variety of data
3
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
4
Further banks want to know who their most
profitable customers are as well as the types
of products and services they most utilize With
BI tools financial institutions neednrsquot become
experts in creating data analytics models that
draw out this information The solutions can pull
this data together and create detailed reports
on such topics as spending patterns from debit
cards loan prepayment speeds and deposit
decay rates The reports also can provide cross-
application research capabilities that track
patterns across the board to compare DDA and
loans data for example in robust detail
And advanced BI tools give banks the ability to
unlock their dark data which Gartner describes
as ldquoinformation assets that organizations collect
process and store in the course of their regular
business activity but generally fail to use for
other purposesrdquo
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
WITH ADVANCED BI SOLUTIONS FINANCIAL INSTITUTIONS CAN
Produce advanced ad-hoc and cross-application reports
Utilize dynamic search tools and save and share tailored
reports
Obtain ldquodeep diverdquo reports
Capture high-level summaries of data through visual representations that show at-a-glance
views of daily and monthly activities and trends
Gain secure access to information anywhere
anytime via PC or tablet devices
Research shows the value of data analytics solutions for financial institutions What BI tools do you currently use
And there are numerous practical applications for BI tools
bull Utilize Customer Analytics It is progressively more challenging for financial institutions to turn all that data into genuine customer intelligence and even more difficult for banks to determine how they should respond and do things differently In years past simply measuring activity on a financial institutionrsquos website was enough like page views unique visitors time on site and exit pages With BI solutions there is enough accessible information to draw a holistic customer profile that includes acquisition engagement and retention across all digital channels
bull Detect and Prevent Fraud Through analytics banks can better detect fraud and money-laundering patternsmdashin real timemdashby looking across customersrsquo transactional information to spot and flag unusual activity
bull Set Deposit Rates You can improve your ability to make pricing decisions that will help your institution get and keep deposits by combining BI software with your own historical data and insight
bull Use ldquoWhat Ifrdquo Illustrations You can create ldquowhat ifrdquo scenarios for a variety of data-driven decisions For example a bank could determine how its bottom line would be affected if 10 percent of its loans defaulted It also could perform an analysis of its branches to determine when teller lines are busiest and staff branches accordingly or analyze whether a certain type of loan is likely to helpmdashor hurtmdashcost-to-income ratios
bull Perform Continual Stress Testing Regulators want institutions to demonstrate an awareness of their portfolios to ensure that no single area takes up too high a concentration Analytics enable stress testing to occur continuously across the organization ensuring greater efficiency and reducing risks well beyond the intermittent stress test
bull Develop a Data-Driven Culture A Celent 2013 report How Big is Big Data Big Data Usage and Attitudes Among North American Financial Services Firms3 found that establishing a data-driven culture means you can look at your acquired information objectively and make decisions based on the datamdashrather on history or intuition
5
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
4
Further banks want to know who their most
profitable customers are as well as the types
of products and services they most utilize With
BI tools financial institutions neednrsquot become
experts in creating data analytics models that
draw out this information The solutions can pull
this data together and create detailed reports
on such topics as spending patterns from debit
cards loan prepayment speeds and deposit
decay rates The reports also can provide cross-
application research capabilities that track
patterns across the board to compare DDA and
loans data for example in robust detail
And advanced BI tools give banks the ability to
unlock their dark data which Gartner describes
as ldquoinformation assets that organizations collect
process and store in the course of their regular
business activity but generally fail to use for
other purposesrdquo
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
WITH ADVANCED BI SOLUTIONS FINANCIAL INSTITUTIONS CAN
Produce advanced ad-hoc and cross-application reports
Utilize dynamic search tools and save and share tailored
reports
Obtain ldquodeep diverdquo reports
Capture high-level summaries of data through visual representations that show at-a-glance
views of daily and monthly activities and trends
Gain secure access to information anywhere
anytime via PC or tablet devices
Research shows the value of data analytics solutions for financial institutions What BI tools do you currently use
And there are numerous practical applications for BI tools
bull Utilize Customer Analytics It is progressively more challenging for financial institutions to turn all that data into genuine customer intelligence and even more difficult for banks to determine how they should respond and do things differently In years past simply measuring activity on a financial institutionrsquos website was enough like page views unique visitors time on site and exit pages With BI solutions there is enough accessible information to draw a holistic customer profile that includes acquisition engagement and retention across all digital channels
bull Detect and Prevent Fraud Through analytics banks can better detect fraud and money-laundering patternsmdashin real timemdashby looking across customersrsquo transactional information to spot and flag unusual activity
bull Set Deposit Rates You can improve your ability to make pricing decisions that will help your institution get and keep deposits by combining BI software with your own historical data and insight
bull Use ldquoWhat Ifrdquo Illustrations You can create ldquowhat ifrdquo scenarios for a variety of data-driven decisions For example a bank could determine how its bottom line would be affected if 10 percent of its loans defaulted It also could perform an analysis of its branches to determine when teller lines are busiest and staff branches accordingly or analyze whether a certain type of loan is likely to helpmdashor hurtmdashcost-to-income ratios
bull Perform Continual Stress Testing Regulators want institutions to demonstrate an awareness of their portfolios to ensure that no single area takes up too high a concentration Analytics enable stress testing to occur continuously across the organization ensuring greater efficiency and reducing risks well beyond the intermittent stress test
bull Develop a Data-Driven Culture A Celent 2013 report How Big is Big Data Big Data Usage and Attitudes Among North American Financial Services Firms3 found that establishing a data-driven culture means you can look at your acquired information objectively and make decisions based on the datamdashrather on history or intuition
5
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
And there are numerous practical applications for BI tools
bull Utilize Customer Analytics It is progressively more challenging for financial institutions to turn all that data into genuine customer intelligence and even more difficult for banks to determine how they should respond and do things differently In years past simply measuring activity on a financial institutionrsquos website was enough like page views unique visitors time on site and exit pages With BI solutions there is enough accessible information to draw a holistic customer profile that includes acquisition engagement and retention across all digital channels
bull Detect and Prevent Fraud Through analytics banks can better detect fraud and money-laundering patternsmdashin real timemdashby looking across customersrsquo transactional information to spot and flag unusual activity
bull Set Deposit Rates You can improve your ability to make pricing decisions that will help your institution get and keep deposits by combining BI software with your own historical data and insight
bull Use ldquoWhat Ifrdquo Illustrations You can create ldquowhat ifrdquo scenarios for a variety of data-driven decisions For example a bank could determine how its bottom line would be affected if 10 percent of its loans defaulted It also could perform an analysis of its branches to determine when teller lines are busiest and staff branches accordingly or analyze whether a certain type of loan is likely to helpmdashor hurtmdashcost-to-income ratios
bull Perform Continual Stress Testing Regulators want institutions to demonstrate an awareness of their portfolios to ensure that no single area takes up too high a concentration Analytics enable stress testing to occur continuously across the organization ensuring greater efficiency and reducing risks well beyond the intermittent stress test
bull Develop a Data-Driven Culture A Celent 2013 report How Big is Big Data Big Data Usage and Attitudes Among North American Financial Services Firms3 found that establishing a data-driven culture means you can look at your acquired information objectively and make decisions based on the datamdashrather on history or intuition
5
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
The Right Time for Business Intelligence Making an investment to consistently strengthen
customer engagement and information delivery
is a key differentiator for financial institutions
going forward It is critical that financial
institutions anticipate their customersrsquo needs and
expectations and rise above not only banking
competitors but also all other retail experiences
Consulting firm Capgemini has stated that
while about one-third of financial organizations
have ldquohands-on experiencerdquo using big data
the majoritymdash63 percentmdashare just flirting
with experiments Those that have made real
investments however already have a 12-point
lead over their competitors
Thatrsquos why it is essential for banks to
6
U n d e r s t a n d i n g B i g D a t a w i t h B u s i n e s s I n t e l l i g e n c e T o o l s
C S I W H I T E P A P E R
1 Survey Analysis Big Data Investment Grows but Deployments Remain Scarce in 2014
2 httpwwwjdpowercomresourceus-retail-banking-satisfaction-study
3 httpwwwcelentcomreportshow-big-big-data
understand their lines of business and revenuesmdashand customers Says SAPrsquos Snyder ldquoIf I really
understand the behavior of my customers I then know what to sell them when to sell them and
I know through which channel to do it To me it is all about offering the right product to the right
customer at the right time And if we understand our customers then we can be much more
intelligent about serving themrdquo
CSI IQ Can Help Donrsquot expect these dashboards and analyses alone to increase profitability Institutions must implement
them to their fullest potential and act upon the vital information gained to efficiently derive answers and
make decisions that not only drive profitability but also reduce costs
The good news is that you donrsquot need to be a database analyst to understand how BI tools work CSIrsquos
business intelligence solution CSI IQ helps you turn vast amounts of data into actionable information that
keeps you competitive in the financial market and continuously meets your customersrsquo evolving needs
Contact CSI today to learn how CSI IQ can help your institution turn data into profit
About CSI Computer Services Inc (CSI) delivers core processing managed services mobile and Internet solutions
payments processing electronic and print distribution and regulatory compliance solutions to financial
institutions and corporate customers across the nation For more information visit wwwcsiwebcom
KY_022715_501_V1
