Business Analytics for Financial Services Organizations

August 12, 2014 - by Synoptek

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Does Your IT Infrastructure Deliver?

Business Analytics or Business Intelligence represents the collection of data from all sources within an organization to improve, visualize and better understand significant trends and patterns. For the Financial services industry, this data includes transactions, customer/market trends, cost trends and real-time tracking of key financial indicators.

Financial organizations need to be aware of these moving metrics on a daily basis and be able to collect this information on a reliable cloud-based IT infrastructure that is accessible from multiple devices at any time anywhere information is needed. Key sources that originate this data for financial services organizations include:

  • Retailers and business partners
  • Loan, daily transaction and investment documents
  • Merger and acquisition files
  • Customer profile data
  • Web and social customer/market data
  • Regulatory and compliance data

To capture these large volumes of data, Big Data from all of these sources and compile it to gain business intelligence requires an IT infrastructure that is properly designed and supported.

The current state of IT infrastructure in the financial services industry consists of a mix of enterprise-owned legacy servers utilizing multiple operating systems running both stand-alone and automated processes. This fragmented IT infrastructure would not be capable of supporting large volumes of data or able to collect the data needed to support Business Intelligence applications.

IT Infrastructure as a Service is Our “Core Focus”

Synoptek Managed Services plans, designs, implements, manages and maintains IT environments supporting large volumes of data over multiple locations. Synoptek provides a robust virtualized architecture along with secure cloud storage required to support a centralized cloud-based infrastructure. No matter what BI solution is adopted, a reliable IT infrastructure, employing support and maintenance processes must be in place.

Let the Professional IT Services Team at Synoptek help you plan, design, implement, manage and maintain an IT environment that can support large volumes of data. We’ve been doing this for over 20 years.

We have compiled a list below to help you determine if IT as a service (ITaaS) is a good fit:

  • Growth of your data is increasing and your infrastructure can’t keep up
  • Legacy systems exist and are quickly becoming obsolete and harder to support
  • Number of sites, systems or users is increasing
  • As everything is growing so is your ability to manage risk, security and compliance
  • Finance wants to move from a capital to operating expense model
  • Existing IT infrastructure is fragmented and becoming more complex to manage and monitor
  • Maintenance is burdensome and licensing and support contracts are becoming problems

If you accept that data is critical to your business, and that the management of that data is equally important, then you want to establish a relationship with a provider like Synoptek that will be a partner with you, and not a faceless vendor who just sells a solution to the masses.