This is a two-part series on vertical business intelligence (BI) trends
After the various banking, mortgage and Wall Street meltdowns that have tilted the foundations of many financial services sectors, it might be easy to assume that most of the business intelligence (BI) activity in the financial industry these days is focused on risk management. In a weak economy, risk can easily suck up attention.
While many financial services firms are indeed investing heavily in risk management, governance and regulatory compliance, the most forward-looking businesses seem to be maintaining their loftiest goals: uniting fractured operating units to provide customer-focused clarity.
"Financial services companies are continuing to heavily invest in customer data integration, particularly through their subsidiaries, product lines and service lines, which is an ongoing need," said Rick Sherman, founder of Athena IT Solutions, a BI and data warehousing consulting firm.
For banks, it is critical to juggle risk management with the kind of smart intelligence that they need to grow and be successful.
"We certainly have an emphasis on risk management; however, focusing on customer profitability, particularly in today's environment, we think is very important," noted Basil Blume, executive vice president and chief analytics officer at Colorado Capital Bank.
For examp...
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