Analytics, key to competitive advantage in financial services business: Dun & Bradstreet
Chennai, June 14, 2014: The volume of transactions of an enterprise is important -- but equally so, is the pattern of transactions, says S. Ganesh, CEO of Dun & Bradstreet Technologies and Data Services. This is where decision management and predictive analytics can be so useful, helping banks and financial institutions to fine tune their operations -- and offerings -- to stay ahead of the competition.
In fact, the bottom of the financial services pyramid -- microfinance -- has emerged as the biggest user of analytics. Many of these tools including 'self learning' models have been crafted by Dun and Bradstreet's Indian engineers and subject specialists based in Chennai.
Recent solutions include big data analtics which enable companies to predict user trends on a real time basis and prepare customised promotional campaigns to boost revenue per user and quickly adjust as per changing user demands.
One of the biggest among emerging opportunities is in the realm of healthcare, says Ganesh. Governmental spending on health is expected to grow steadily from around 1.4% of GDP this year to 2 % by 2020. This is a huge opportunity for Indian IT solution providers, because the sector is is only sparingly IT-enabling its operations today. But this could well be the Next Wave.
Dun & Bradstreet’s India recently released study "Outlook Report, 2014-15" find with regard to the IT and IT enabled services industry that India is expected to increase its expenditure on cyber and data security to bring it at par with other developed nations and maintain its lead as a key destination for outsourcing. Offshoring of engineering and R&D services to India, will continue at a healthy pace. Dun & Bradstreet is a leading source of global business information, knowledge and insight for 171 years. D&B’s global commercial database contains more than 220 million business records.Based in Chennai, India, D&B Technologies and Data Services specializes in providing Analytical Solutions, Risk and its clients globally including leading banks and financial institutions worldwide. Management Platforms, Information Management solutions and data research & analysis services to Dun & Bradstreet