Business Intelligence and Analytics: Paving way for Operational Excellence in Indian Banks

Abstract

India’s banking industry is undergoing through a phase of major transformation, with entry of more players in an already competitive environment and as a result one common theme being seen across banks in India is increased adoption of business intelligence (BI) and analytics to drive their overall profitability. Can Business Intelligence and analytics assist in resolving some of the issues faced by modern day banks in India? This study explored Business Intelligence and Analytics application in Indian Banks using focused interviews, press release, bank website review and case study analysis. The study found tools and technologies being used and various areas of BI application in banks. It also found the areas in need of improvement, issues and challenges faced by Indian Banks in their BI and analytics implementation agenda. It is hoped that this study will serve as a knowledge base about BI and analytics in Indian bank and would assist managers, decision makers and researcher in making better informed decision. The study also provides the scope for further research in the role of Business Intelligence and Analytics in Indian Banking system.