BFSI VISION | Analytics

   
 

Deepak Ghodke
Country Manager- Tableau Software,India

Self-service big data analytics now on rise

"With the banking industry relying more heavily on technology, CTOs of banks have an ever-growing important role of data storage and management. It is challenging, given the humongous volume of data constantly being created. Security and compliance are paramount, but alongside, the pressure is also for the IT team to provide analytics and insights into this data.

Instead of confining access to this critical data to only a small bunch of data scientists, we think that self-service big data analytics is now on the rise within banks and many other data-driven industries. With Tableau, we are enabling individuals across the bank to conduct their own analysis, as they are the experts and they know exactly the questions they need to ask and answer.

While most banks already have legacy systems that collect and segregate their data, it is crucial for them to be able to catch on to trends as they happen and immediately take advantage of these trends. Access to data can lead to innovation within banks. Big data analytics can be used for several of the bank's functions, and can be in conjunction with existing IT systems.

With regards to successful deployment of big data analytics, we do think that it is important for the data to be easily accessible, dynamic and being able to pull out trends and insights real-time. Making data visual and easy to interpret is what we conceive of data going forward. We see the era of data scientists ending with everyone being able to comprehend data."