Analytics: Changing paradigms

Analytics has eventually gained importance in the banking sector. From cost optimization, risk balancing to revenue growth, analytics does it all. Operational analytics: reporting, basic forecasting with data and Advanced analytics: model driven, focusing on the predictive aspects- these are used by the banking sector. Slowly customer analytics and risk analytics are also coming into the picture. These help in revenue growth, investment banking, improving customer experience and save the bank from the uncertainties of the market. Analytics is giving the banking sector well defined strategies, changing paradigms with the advancement of technology. With this evolution of analytics, the need for professionals who can bridge the gap between IT and businesses is immediate. Banks are already employing personnel to read into the data offering growth, efficiency and risk management. Read more at:http://www.businessworld.in/news/economy/analytics-&-banking/1719002/page-1.html