Aside from people, data increasingly is viewed as an organization’s most valuable asset. Large corporations— including large banks—have become adept at leveraging data to understand their customers as well as revenue and expense drivers in order to improve decision making. This trend is moving steadily to the middle market. Ultimately, analytics will be an imperative for service-based organizations of all sizes. Consider:
Unlock the power of your data
When it comes to customer data, banks and credit unions are sitting on a metaphoric pile of gold. But, because this data resides in disparate and outsourced systems, institutions have a difficult time leveraging its value. Moreover, many lack the in-house expertise or resources to access and translate this data into meaningful business opportunities—at a time when they are under particular pressure to act quickly to attract and retain profitable customers, increase core deposits, manage expenses, and increase income.
A wealth of experience
If you are seeking better insight as a means of enhancing financial performance and competitiveness, talk to West Monroe Partners. We offer a wealth of financial services industry, data integration, and business intelligence experience—insight that helps banks and credit unions:
Assess, analyze, act
Our experienced consultants apply deep industry experience and knowledge of analytics best practices to help you bridge internal resource constraints and minimize the lead time required to develop action-ready business insight. We leverage data from your reporting systems or use our proprietary Insight On-Demand offering to:
In addition, we can utilize our extensive Microsoft business intelligence experience, based on SQL Server, to help your institution implement longer-term enhanced internal analytics capabilities and unlock the power of your data.
Don’t just measure the results—deliver them
Measuring profitability is one thing. Improving it is quite another. That’s where analytics and insight come in. West Monroe Partners can help your institution develop a deep understanding of your operations and your opportunities—and then turn that insight into effective business decisions and, ultimately, better results.