Trapeza Intelligence: Transforming the Information

Abstract

ABSTRACT

Information is the heart of every business. For effective decision making, information management is required so that pertinent information is available from time to time. Nowadays, the banking and financial service industry is rapidly changing due to the factors like globalization, mergers and acquisitions and technological innovations. With information pouring into the organization, banks are constantly challenged to turn vast data stores into actionable insight. This can be achieved with the collaboration of business intelligence technologies namely data warehousing and data mining. Data warehouse provides a repository for storing relevant data which can yield meaningful results. Data mining can be applied to extract valuable bits of information from these huge electronic data repositories. This survey-based paper compares the public and private sector Indian banks and Indian banks and foreign banks in terms of services provided to the customers. Moreover, it discusses how information management and business intelligence (BI) technologies are within the reach of banking sector and how BI can help banking sector to provide information for strategic decision making.

Keywords: Bank, business intelligence, ETL, data mining, data warehousing