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International Journal of Innovation and Scientific Research
ISSN: 2351-8014
 
 
Sunday 23 September 2018

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Application of Business Intelligence in the Financial Services Industry


Volume 26, Issue 1, August 2016, Pages 135–145

 Application of Business Intelligence in the Financial Services Industry

Ghazwan Khalid Ouda

Original language: English

Received 2 June 2016

Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract


A highly dynamic market, violent competition, changing client demands, and the need of strict control and risk management are only some of the challenges of the business environment where modern financial companies conduct their operations. Factors such as mergers and acquisitions, deregulation, technological innovation, and competition, have forced financial companies to rethink their business. Business intelligence (BI) solutions for financial companies provide the decision makers with the ability to manage and take advantage of information resources, in order to solve the problems and make high-quality and timely decisions. The use of BI in financial services industry helps financial companies for creating a vision for financial managers, training the organization to determine realistic goals, and supporting optimal decision making. Business intelligence covers many areas of the financial services industry, and among the most important are: Relationship Marketing, Performance Management (PM), Risk Management (RM), Asset and Liability Management (ALM), and Compliance. Data warehouse (DW) and on-line analytical processes (OLAP) are the informational basis for the application of business intelligence. Data mining (DM) is important part of business intelligence and deal with complex statistical analysis, discovering hidden relationships between data and predicting the behavior trends of business systems. This paper is an attempt to straighten Economy Bank for Investment and Finance (EBIF) through business intelligence techniques to properly identify opportunities and trends in financial businesses. In this work, we propose a business intelligence system, developed on Microsoft SQL Server 2008 R2, for an Economy Bank for Investment and Finance based on the information which the company has. We utilized the business intelligence system in EBIF to accomplish complex processing and data analysis.

Author Keywords: Data warehouse, Data Mining, On-Line Analytical Processing, Performance Management, Risk Management.


How to Cite this Article


Ghazwan Khalid Ouda, “Application of Business Intelligence in the Financial Services Industry,” International Journal of Innovation and Scientific Research, vol. 26, no. 1, pp. 135–145, August 2016.