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Five Keys to Choosing an Analytics Platform in Financial Services

Building a Foundation for Improving Business Decisions

Considerations for Choosing Analytics

In today’s dynamic business environment, competitive forces are putting extreme pressure on financial services organizations to better understand their customers and how to serve them, to optimize their operations and control costs, and to rigorously address security risks and regulatory requirements. Properly applied, analytics can help in all these areas. Market research conducted by Ventana Research over the last decade finds that among significant business technology trends, analytics is a top priority for financial services organizations.

Analytic technology comes in many shapes, sizes and varieties, ranging from single-purpose point tools to suites and platforms. Acquiring point analytics tools as needed to address specific needs can be appealing, but it also may be shortsighted. Tools designed for a single function or type of analytics do not aid in architectural integration of the technology across the business. While it is possible for financial services organizations to put together individual best-of-breed analytics tools, doing so is a complex and costly undertaking that requires technical expertise.


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