The Client is one of the largest Rural Fintech companies in India with more than 700,000 Rural Entrepreneurs and services to benefit 100 million consumers. The Client business is currently growing at 150% year over year with a transformative impact on digital, financial, and e-retail services across rural and semi-urban regions.
The Partner is based in India and offers an Audit, Compliance and Risk Management solution for banks, insurance companies and financial institutions. The comprehensive solution helps organizations to improve efficiency and effectiveness of audit department operations by standardizing organizational audit procedures to manage internal risks and compliance.
Perhaps you have resisted the temptation to democratize data in your organization. Your resistance may come from in-house, in the form of those who tell you that data governance is impossible in an environment where you spread your data far and wide. Perhaps you believe that the average business user cannot and will not use business intelligence tools, so any expense or time to implement such a solution would be wasteful. Perhaps you feel that the value of such a solution and of user adoption of these tools is overrated, and that ROI and TCO would not be worth the time and effort.
No matter your reason for investing in that business application, the investment was meant to improve the business, to make team members more productive, to act as a repository for important business data and to somehow improve the bottom line. But, the effectiveness and success of a software solution depends on more than its features and functionality. Yes, one must consider its ease of use too, but that’s not the point of our discussion today.
Don’t you hate it when someone blurts out a mysterious term at a business conference and you are left to decide whether to reveal your ignorance by asking what they are talking about, or simply nodding your head and smiling as if you understand and agree? I hate it when that happens.
Perspective is everything. You can stare at numbers and columns all day and never see the one nugget of information that will give you insight and help you solve a problem or find that one opportunity to drive the business to the next level. When you and your business users can leverage augmented analytics tools, without worrying about complex algorithms or writing code or designing reports, you can find those elusive nuggets of information and use them to improve your business results.
So, you’ve got yourself a BI tool! That’s great news. Hopefully, that business intelligence solution includes all the features your business users need to easily gather and analyze data and make recommendations and suggestions, make decisions and fulfill their responsibilities in a way that supports your corporate goals and objectives. While your business may not think it needs all the bells and whistles, there are many hidden benefits to features and tools. Take for example, GeoMapping.
Have you heard of Embedded BI? Do you know what it is? If not, your business is missing a lot. Embedded BI provides a lot of potential for your business to enable Citizen Data Scientist initiatives and data democratization, improve data literacy across the enterprise and make better business decisions.
When choosing a BI tool and augmented analytics solution for your business, one of the most crucial concerns is the features and functionality of the prospective solution and how this solution will meet user and organizational needs. It is important to remember that there are also specific features a business should consider, like embedded BI and easy-to-employ Integration APIs, that will assure user adoption and appropriate ROI and TCO.
When a business considers business intelligence and augmented analytics initiatives, it should include Embedded BI and Integration APIs to improve ROI, TCO and user adoption. If an enterprise does not understand the risks of data silos, and restrictive analytics solutions, it is not likely to make the right choices. With appropriate planning and execution, businesses can create a solid foundation, and provide benefits for all users, managers and IT staff.
