The rising predominance of Big Data and aligned predictive modeling tools have made it an era for data-based decision making.Use of analytics has been deepening, both rhetorically and tangibly, creating an atmosphere for smarter data insights. Banking, being one of the sectors which heavily depend on structured data, routinely manages massive loads of data that ranges from customers interactions to regulatory frameworks.
Data gathered via several routes means new opportunities for the Banking sector and hence the challenge arises in consolidating this knowledge pool of data. SAS analytics solutions for Banking sector turns raw data into meaningful insights that helps in strategizing the marketing plans and align the sales and promotion for the products and services. Subsequently, it helps to unveil the hidden customer behavior so that the change makers can make more empowered based on fact based reliable analysis.
Challenges
SAS Banking solutions provide a scale of interrelated analytical solutions which ensures that the data is always consistent, accurate, verifiable and up-to-date. Following are just indicators why the banks globally are acknowledging the power of data through SAS.
Clear and Structured Data to lessen the Data Preparation time
SAS has been providing a comprehensive range of business intelligence solutions providing structured and consistent data through interactive and dynamic reporting format which forms the foundation of critical business decision and strategies.
Access the data when you need it
From the legacy old information to the newest address updates, SAS has been empowering the credit institutions to let them access any data at any time. This saves a lot of time and provides the actual data.
A complete integrated view of whole enterprise data
Being a highly flexible and reliable platform, SAS banking solutions provide a complete integrated view of the whole enterprise data eliminating the concept of linking and managing different technologies.
Effective Data Cleansing
Data from different sources increases the chances for redundancies. Now the users can reduce the levels of redundancies making the data more reliable and saving the other costs top enterprises.
Associated Achievers: Data Management through SAS Banking
17 countries, 3500 ATMs and 950 branches; ICICI showed the world how to consolidate such volume of data via Business intelligence. The banking institution which holds major chunk of business in various countries across globe has been utilizing the SAS banking tools to align the data ranging from customer records to other influential strategical information. The SAS Base Certification Training Course Online of all the ICICI’s need for scalability, flexibility and its goal of achieving more efficient customer satisfaction.
Another notable name in the long list of banking institutions which have been utilizing the SAS services is Bank of America. Catering to 59 million consumers and other small business enterprises through a channel of 6000 retail banking offices along with 18000 ATMs, Bank of America is a global leader in providing corporate and investment banking solutions.
To meet its performance standards, the bank has been utilizing a dedicated platform comprised of SAS® Enterprise Risk Management on SAS® Grid Computing, Advanced SAS Training Certification Performance Data Server on a 224 core IBM BladeCenter® grid and the IBM's XIV® Storage System. Consequently, the bank has registered a 90 percent decline in the processing time. Subsequently, the bank’s probability of default calculation has reduced from 96 hours to just four.
The increasing adoption of SAS architecture by the banking institutions has created a wide scope of professionals with SAS skills which can be easily obtained through SAS online training. Aspirants can take the route of SAS Base Corporate training through the most coveted institution, Multisoft Virtual Academy, to embark a journey of myriad of opportunities.
More info visit - www.multisoftvirtualacademy.com/blog
Data gathered via several routes means new opportunities for the Banking sector and hence the challenge arises in consolidating this knowledge pool of data. SAS analytics solutions for Banking sector turns raw data into meaningful insights that helps in strategizing the marketing plans and align the sales and promotion for the products and services. Subsequently, it helps to unveil the hidden customer behavior so that the change makers can make more empowered based on fact based reliable analysis.
Challenges
- Insufficient Data: Banks need data about the history and other details which is at times difficult to consolidate.
- Data Redundancies:A considerable poor quality of data which can be attributed to the factors like multiple data entry procedures, incomplete addresses and other human errors.
- Multiple Operational Sources:Different departments/ functions can have their own mechanisms of data reporting which results in scattered and duplication of data.
SAS Banking solutions provide a scale of interrelated analytical solutions which ensures that the data is always consistent, accurate, verifiable and up-to-date. Following are just indicators why the banks globally are acknowledging the power of data through SAS.
Clear and Structured Data to lessen the Data Preparation time
SAS has been providing a comprehensive range of business intelligence solutions providing structured and consistent data through interactive and dynamic reporting format which forms the foundation of critical business decision and strategies.
Access the data when you need it
From the legacy old information to the newest address updates, SAS has been empowering the credit institutions to let them access any data at any time. This saves a lot of time and provides the actual data.
A complete integrated view of whole enterprise data
Being a highly flexible and reliable platform, SAS banking solutions provide a complete integrated view of the whole enterprise data eliminating the concept of linking and managing different technologies.
Effective Data Cleansing
Data from different sources increases the chances for redundancies. Now the users can reduce the levels of redundancies making the data more reliable and saving the other costs top enterprises.
Associated Achievers: Data Management through SAS Banking
17 countries, 3500 ATMs and 950 branches; ICICI showed the world how to consolidate such volume of data via Business intelligence. The banking institution which holds major chunk of business in various countries across globe has been utilizing the SAS banking tools to align the data ranging from customer records to other influential strategical information. The SAS Base Certification Training Course Online of all the ICICI’s need for scalability, flexibility and its goal of achieving more efficient customer satisfaction.
Another notable name in the long list of banking institutions which have been utilizing the SAS services is Bank of America. Catering to 59 million consumers and other small business enterprises through a channel of 6000 retail banking offices along with 18000 ATMs, Bank of America is a global leader in providing corporate and investment banking solutions.
To meet its performance standards, the bank has been utilizing a dedicated platform comprised of SAS® Enterprise Risk Management on SAS® Grid Computing, Advanced SAS Training Certification Performance Data Server on a 224 core IBM BladeCenter® grid and the IBM's XIV® Storage System. Consequently, the bank has registered a 90 percent decline in the processing time. Subsequently, the bank’s probability of default calculation has reduced from 96 hours to just four.
The increasing adoption of SAS architecture by the banking institutions has created a wide scope of professionals with SAS skills which can be easily obtained through SAS online training. Aspirants can take the route of SAS Base Corporate training through the most coveted institution, Multisoft Virtual Academy, to embark a journey of myriad of opportunities.
More info visit - www.multisoftvirtualacademy.com/blog