top 10 - CULytics Community2024-03-29T14:23:18Zhttps://culytics.com/blogs/feed/tag/top+10Top Website Personalization Technologieshttps://culytics.com/blogs/website-personalization-tools2018-09-13T15:09:33.000Z2018-09-13T15:09:33.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p>Simply put, web personalization is the process by which a website can create unique experiences for visitors. It streamlines content for the visitors such that they only receive information relevant to them, instead of being presented with a broad spectrum of information that may not be relevant to their needs. In doing so, web personalization creates a curated experience solely for the visitor.</p>
<p>Web personalization is a field of growing importance as customers have less attention span and want to feel special and rewarded for their loyalty. They no longer want to sift through pages and pages of content to find something pertinent to them. The onus of finding relevant, timely and contextual information is now on the organization rather than the individual, and hence web personalization is critical in this day and age.</p>
<p>The feature of web personalization is especially important with regards to the credit union industry as seen from the findings in 2016 Credit Union Customer Survey conducted by TimeTrade. The results showed that credit union customers ranked personalization as their top priority and that over 85% of credit union respondents felt like they had a personalized experience with their credit union.</p>
<p><a href="{{#staticFileLink}}125005748,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005748,RESIZE_710x{{/staticFileLink}}" alt="125005748?profile=RESIZE_710x" width="710" /></a></p>
<p>Therefore, having a personalized Web experience for customers is a necessity for credit unions to survive today. Here are the best web personalization tools your credit union company can use to ensure that it keeps up with the personalized demands of customers –</p>
<div id="cnet" class="vendor">
<h2><strong>1.ChannelNet</strong></h2>
<p>ChannelNet offers a credit union a powerful personalization platform to drive higher engagement and loyalty. A vital benefit of OneClick Financial we become an extension of your marketing team. As a result, credit unions can deploy relevant content and functionality that gets updated quickly, run A/B tests on promotions, receive leads delivered daily with member's behaviors, and receive monthly analytics to drive further business intelligence insight.</p>
<p>It is a cost-effective platform that provides a trove of data for marketers to engage better, retain and target with products and services that best meet their members' financial life.</p>
<p><a href="{{#staticFileLink}}125005775,original{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}9304441456,RESIZE_710x{{/staticFileLink}}" alt="9304441456?profile=RESIZE_710x" width="710" /></a></p>
<p><strong>Here are some of the features that ChannelNet offers to its clients-</strong></p>
<ol>
<li><strong>Digital engagement platform designed specifically for credit unions.</strong></li>
<li><strong>Easy integration with credit union data feeds, IT Team resources, and external integration of third-party API sources.</strong></li>
<li><strong>Dynamic data-driven personalization platform that delivers relevant content at the right time.</strong></li>
<li><strong>Lead generation is tracked, delivered daily to the credit union, allowing for follow-up, retargeting, and measuring ROI. </strong></li>
<li><strong>OneClick uses data analytics, propensity scores, personas, behavioral, and transactional data models within the digital engagement platform.</strong></li>
<li><strong>Creative and analytics teams review personal web pages regularly to make suggestions to increase performance.</strong></li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.channelnet.com/" target="_blank">Get Details</a></p>
</div>
<h2><strong>2. Adobe</strong></h2>
<p>Adobe provides a collection of tools that were developed to ensure that a website can offer personalized experiences to each of its customers while also ensuring greater control and accessibility towards analyzing customer trends and preferences. It is a one-stop tool to combat all the challenges that web personalization brings to an organization.</p>
<p><a href="{{#staticFileLink}}125005775,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005775,RESIZE_710x{{/staticFileLink}}" alt="125005775?profile=RESIZE_710x" width="710" /></a></p>
<p><strong>Here are a few of the many features that Adobe offers to its clients-</strong></p>
<ol>
<li><strong>Adobe Analytics–</strong>Offers clients complete access to unprecedented levels of customer trend analysis with regard to their preferences and insights.</li>
<li><strong>Adobe Audience Manager –</strong> Allows companies to bring together vast amounts of customer data to create customer profiles based on interest and values- thereby enabling organizations to provide targeted content to these groups.</li>
<li><strong>Adobe Target –</strong> Allows an organization to personalize its website such that it can conduct customer-targeted tests through many forms that enable greater insight into customer behavior.</li>
<li><strong>Adobe Campaign –</strong> Allows your organization to gain an understanding of what customers respond to, their interactions, and their purchases. All of this will assist in building an even greater personalized platform to cater to your customers' needs.</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.adobe.com/experience-cloud/topics/website-personalization.html" target="_blank">Get Details</a></p>
<h2><strong>3. Monetate</strong></h2>
<p>Monetate is another web personalization tool that will significantly assist your business in constructing personalized experience for your customers. With their Monetate Intelligent Personalization Engine, this tool will allow you to have complete control over all aspects of customer experience-centric processes.</p>
<p>This tool will enable you to identify the most applicable solutions and thereby increase conversions. It is also the leading personalization tool wherein it services more IR500 Brands then any other platform.</p>
<p><a href="{{#staticFileLink}}125005785,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005785,RESIZE_710x{{/staticFileLink}}" alt="125005785?profile=RESIZE_710x" width="710" /></a></p>
<p><strong>The features that Monetate brings are –</strong></p>
<ol>
<li>Open architecture system present in the Personalization Engine which allows greater control in connecting various data sources to come up with the most holistic portrait of customer needs and desires.</li>
<li>The capability to analyze over a million data points in just a second. The Artificial Intelligence personalization engine sorts out relevant information itself and provides only valuable information to further conversion or AOV for your company.</li>
<li>Omnichannel support to connect to any channel via API or server-side integration.</li>
<li>A/B Testing and Segmentation to allow for identification of high-value audiences as well as testing for the most appropriate digital asset.</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.monetate.com/products/1-to-1-personalization" target="_blank">Get Details</a></p>
<h2><strong>4. Optimizely</strong></h2>
<p><strong><a href="{{#staticFileLink}}125005781,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005781,RESIZE_710x{{/staticFileLink}}" alt="125005781?profile=RESIZE_710x" width="710" /></a></strong></p>
<p>Optimizely is one of the world’s leaders when it comes to the field of web personalization. With glowing customer reviews and industry-leading Stats Engine, Optimizely allows clients to have all the data they need to craft an impeccable web personalized service for their customers wherein they receive targeted content as and when they need to.</p>
<p><strong>These are just a few of Optimizely’s many features –</strong></p>
<ol>
<li>Real-time updates concerning behavior targeting and customer trends.</li>
<li>Overlapping audiences can be dealt with quickly in order to separate statistics for different measures.</li>
<li>Unlike many other tools, Optimizely is mobile compatible as well as web compatible.</li>
<li>Includes visual editor to condense data into easily analyzed forms.</li>
<li>Performance measurement beyond typical industry standards with a highly efficient stats engine,</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.optimizely.com/products/personalization/" target="_blank">Get Details</a></p>
<h2><strong>5. Oracle Maxymiser</strong></h2>
<p>Oracle Maxymiser is a part of the Oracle Marketing Cloud – one of the world’s leading marketing tools. Maxymiser is a tool that is geared towards companies identifying and employing the most at experiences for their customers across all media.</p>
<p>Insights into customer behavior are achieved through <strong>Maxymiser's unparalleled personalization capabilities</strong> that are mentioned below –</p>
<p><a href="{{#staticFileLink}}125005787,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005787,RESIZE_710x{{/staticFileLink}}" alt="125005787?profile=RESIZE_710x" width="710" /></a></p>
<ol>
<li><strong>A/B Multivariate Funnel Testing</strong> – This allows companies to build richly detailed A/B campaigns through a visual editor tool and discover the best performing experiences.</li>
<li><strong>Unified Customer Profiles</strong> – It lets you gain a holistic record of visiting personas through a combination of both online and offline data collection methods from 1<sup>st</sup> and 3<sup>rd</sup>party feeds.</li>
<li><strong>Segment Targeting</strong> – The ability to target specific demographics based on various business needs and goals.</li>
<li><strong>Customer Behavioural Insights</strong> – Maxymiser allows you to collect automated insights from customer actions to better shape current and future campaigns based on customer needs.</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.oracle.com/marketingcloud/products/testing-and-optimization/index.html" target="_blank">Get Details</a></p>
<h2><strong>6. SiteSpect</strong></h2>
<p>SiteSpect is one of the world’s leading patented platforms that was created specifically to provide the most accurate and accessible web personalization services possible. A customer’s entire experience is customized all the way from the front end to the backend to ensure as much curation as possible.</p>
<p><a href="{{#staticFileLink}}125005854,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005854,RESIZE_710x{{/staticFileLink}}" alt="125005854?profile=RESIZE_710x" width="710" /></a></p>
<p>SiteSpects services have a ton of useful, innovative features that will assist any organization that is set on improving its personalized experiences for their customers.</p>
<p><strong>Here are a few of the features present –</strong></p>
<ol>
<li>Full A/B and multivariate capabilities to ensure optimum content selection and presentation.</li>
<li>Extensive reporting and analytical capabilities to ensure thorough data processing.</li>
<li>Visual and code editor to assist in building campaigns.</li>
<li>Return on investment modeling to assist the organization in analyzing profitability.</li>
<li>On site set up and training to help in easy adoption of the software by existing professionals.</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://www.sitespect.com/" target="_blank">Get Details</a></p>
<h2><strong>7. Visual Website Optimizer</strong></h2>
<p><strong><a href="{{#staticFileLink}}125005824,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}125005824,RESIZE_710x{{/staticFileLink}}" alt="125005824?profile=RESIZE_710x" width="710" /></a></strong></p>
<p>VWO is an all-encompassing platform to sort out your company’s A/B Testing needs and subsequent web personalization. Using state-of-the-art software, VWO allows you to access vast amounts of customer-related data in a fraction of time to assist you in being more well informed with customer needs and desires.</p>
<p><strong>Some of VWO’s web-personalization focused features are –</strong></p>
<ol>
<li>Unmatched technology with their unique SmartCode ensures that your website never slows down even with all the analytical background processes occurring.</li>
<li>VWO offers a multitude of integrations with third-party applications.</li>
<li>A multitude of analytical tools to measure underperforming aspects of the website such as Heat Maps, Conversion Opportunities and, Website Element Analysis.</li>
<li>Highly efficient A/B and Multivariate Testing feature coupled with a thorough demographic analysis.</li>
</ol>
<p align="center"><a class="btn-primary btn-inline" style="background:#124c8f;color:#ffffff;display:inline-block;font-family:'Helvetica Neue', Helvetica, Helvetica, Arial, sans-serif;font-weight:bold;line-height:2;margin:0;padding:10px 35px;text-align:center;text-decoration:none;" href="https://vwo.com/" target="_blank">Get Details</a></p>
<h2><strong>Final Thoughts</strong></h2>
<p>Therefore, we can see that web personalization tools are an essential part for any company in this digital age. These are tools that allow your organization to target what customers want and need – a personalized experience. This, in turn, will benefit not only the customers but the business in the long run as it allows for a more measured and efficient layout to drive up sales and conversions while increasing customer satisfaction as well.</p>
<p>Proof of this can be seen in a study by Monetate wherein 79% of all surveyed organizations that managed to exceed revenue goals went on to document personalization strategy as a core tenet, compared to 31% of organizations that met their revenue goals and only 8% of organizations that missed their revenue goals. Therefore, the implementation of a personalization strategy resulted in a very high chance of high returns for the company. It is an investment your organization must make to take itself to the next level.</p></div>Top Robotic Process Automation Technologieshttps://culytics.com/blogs/robotic-process-automation-tools2018-09-05T08:56:59.000Z2018-09-05T08:56:59.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p><span style="font-weight: 400;">Customers need a 24x7 safe and reliable banking service. Customer satisfaction and a reliable banking experience are crucial for the success of Credit Unions. However, providing a reliable, round the clock services entails costs. Credit Unions already are struggling to find ways to lower costs so as to improve their profitability. Hence, it has become necessary to adopt new technologies to remain competitive, satisfy customers and control costs. One of such emerging technologies is Robotic Process Automation (RPA).</span></p>
<p><span style="font-weight: 400;">RPA is a process that helps in automating definable, repetitive and rule-based processes. When a Credit Union uses a software robot to automate a process, it saves time and also improves efficiency and effectiveness of a process.</span></p>
<p><span style="font-weight: 400;">The employees doing these tasks can be reallocated to other jobs such as improving operations or enhancing the experience of the customers. Thus, RPA also helps in saving operational costs for the Credit Unions.</span></p>
<p><span style="font-weight: 400;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/99873507?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/126666917?profile=RESIZE_710x" width="710" /></a></span></p>
<p><span style="font-weight: 400;">Robotic Process Automation uses specialized software to execute tasks, processes which are simple but repetitive in nature.</span></p>
<p><strong>RPA can only be applied when the process or the task is –:</strong></p>
<ol>
<li>Repetitive in nature.</li>
<li>Is a standard procedure.</li>
<li>Prone to Human error.</li>
<li>Doesn’t add significant value.</li>
<li>Requires allocation of a huge number of Human resources.</li>
</ol>
<p>Thus, processes that involve simple tasks such as copy and paste of data, few mouse-clicks, navigation on the screen or log in - log out tasks, can be automated. This helps in reducing the time involved to complete these tasks as well as ensures the tasks complete without human errors.</p>
<p><strong>Few examples where Credit Unions can apply RPA are -:</strong></p>
<ol>
<li>Incoming inquiries of a customer which are of low priority like account inquiries or specific product inquiries such as non-recurring and small amount of credit card disputes.</li>
<li>Compliance related procedures.</li>
<li>Fraud detection wherein RPA can be used to identify a potential fraud and highlight to the concerned teams.</li>
<li>KYC processes.</li>
<li>Account closure processes</li>
</ol>
<p><span style="font-weight: 400;">The best advantage of RPA is that these robots can do the task 24x7 thus giving customers around the clock service without the need of humans.</span><span style="font-weight: 400;">RPA software can use the same systems as well as applications used by humans earlier to perform tasks.</span></p>
<p><span style="font-weight: 400;">RPA uses Artificial Intelligence which enables it to mine the available data and provides a valuable as well as accurate interpretation. This information can then be used by credit unions to enhance their services as well as profitability.</span></p>
<p><span style="font-weight: 400;">The best RPA software available in the market currently are -:</span></p>
<h2>1. Pega Robotic Automation and Intelligence</h2>
<p>Pega is one of the leading companies providing Robotic Automation in the world. Pega has the global presence and has partnered with companies such as Accenture, Capgemini, Cognizant and EY</p>
<p><span style="font-weight: 400;">It automates all those manual tasks that are repetitive and hamper productivity in an organization. It focuses on improving customer experiences, decreasing operating costs and ensures that the organization doesn't lose valuable opportunities.</span></p>
<p><span style="font-weight: 400;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/99874371?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99874371?profile=RESIZE_710x" width="710" /></a></span></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>By simplifying desktop, it optimizes customer service processes;</li>
<li>It enables round the clock processing</li>
<li>Based on the workload it can scale up or scale down</li>
<li>It can orchestrate the customer journey by integrating customer channels, business data, and enterprise applications</li>
<li>It helps to improve productivity 5-15% and provides ROI within 30 days of implementation</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="https://www1.pega.com/topics/robotic-automation" target="_blank" rel="noopener">Get Details</a></p>
<h2>2. UiPath Robotic Process Automation</h2>
<p><span style="font-weight: 400;">UiPath is one of the leading platforms for Enterprise RPA available in the market. UiPath enterprise Robotic Process Automation handles more than 700 enterprises as well as Government enterprises. It can be used on the cloud as well on premises. The UiPath Enterprise RPA platform has three integrated components.<br />
These components are -</span></p>
<ol>
<li><strong>UiPath Studio - I</strong>t is the general of the army of Robots. The powerful recorders would capture the processes and workflow and automates the process. They also build a library of template activities that make the process of automation quick and easy.</li>
<li><strong>UiPath Robot - </strong>It is the worker that would do the work scheduled without any supervision that is unattended. It provides quick and accurate automation for SAP, Citrix and Mainframe processes.</li>
<li><strong>UiPath Orchestrator - </strong>It is the management console that would provide the licenses, configure and deploy UiPath Robots. It has the responsibility of handling key enterprise duties such as release management, centralized logging, reporting, auditing and monitoring, remote control, workload management and asset management.</li>
</ol>
<p>UiPath RPA has partnerships with companies such as Accenture, Capgemini, PWC, EY, Deloitte, Cognizant etc.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/99874932?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99874932?profile=RESIZE_710x" width="710" /></a></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>Facilitates attended as well as unattended automation.</li>
<li>It provides a secure and separate space for multiple users spread across geographies and of different departments.</li>
<li>It helps in intelligently scheduling process automation. This ensures there are no spike in work volumes and preference given to important processes.</li>
<li>UiPath provides its customers with a downloadable free trial before they decide to purchase the software.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="https://www.uipath.com/" target="_blank" rel="noopener">Get Details</a></p>
<h2>3. NICE Robotic Automation</h2>
<p>Nice RPA provides cloud as well as on-premises enterprise software solutions. These solutions empower organizations to make better decisions based on advanced analytics of data.</p>
<p>It has a global presence and has partnered with companies such as Accenture, Cognizant, and IBM.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/99875909?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99875909?profile=RESIZE_710x" width="710" /></a></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>It delivers both, desktop as well as server automation.</li>
<li>It plans employee activities and processes to identify where automation is key to immediate and long-term optimization.</li>
<li>It has 500,000 robots and can scale up quickly as and when needed.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="https://www.nice.com/websites/rpa/" target="_blank" rel="noopener">Get Details</a></p>
<h2>4. Blue Prism V6</h2>
<p>This software is provided by Blue Prism who claim to be the inventors of RPA. The tool provided by them is easy to use and generally adopted by the users who have no idea of programming. It provides multilingual UIs for ease of use. The knowledge center provided by the company has answers to almost every queries of users.</p>
<p> It has a global presence and is in partnership with companies such as Accenture, Capgemini, PWC, EY, Deloitte, IBM, KPMG, and Cognizant.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/99876686?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99876686?profile=RESIZE_710x" width="710" /></a></p>
<h3>Features</h3>
<ul type="circle">
<li>It improves productivity and effectiveness through the use of intelligent surface automation.</li>
<li>It helps in an creating an inventory of robust, reusable objects and processes. These can be used as and when needed.</li>
<li>It makes scaling software is easy. It deploys either one or several robots on-premise or on the cloud to scale on demand.</li>
<li>It provides Multi-lingual Interface.</li>
<li>It uses Remote Visualisation Technology for Robot Screen- Captures which helps in faster development & deployment of processes.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="http://www.blueprism.com/intelligent-automation-skills" target="_blank" rel="noopener">Get Details</a></p>
<h2>5. IQ BOT</h2>
<p>It is provided by Automation Anywhere which is the world’s largest provider of RPA. Automation Anywhere is the pioneers of an intelligent digital workforce. IQ Bot has the capability to learn from humans and uncover hidden data. It can also transform data that is needed to accelerate the automation of business processes and efficiently and also eliminate human errors.</p>
<p>Currently, more than 1100 leading enterprises of the world have deployed more 6.5 million bots on Automation Anywhere for automating their business in the field of banking, finance, logistics and other sectors. They deliver in 90 countries with the help of more 125 global partners.</p>
<p>It has a global presence and is in partnership with companies such as Accenture, Capgemini, PWC, EY, Deloitte, IBM KPMG, Cognizant etc.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/99877448?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99877448?profile=RESIZE_710x" width="710" /></a></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>Enables automation of human-centric processes which involves fields and patterns.</li>
<li>The software doesn’t require any specific training.</li>
<li>It is capable of identifying and highlighting important data hidden in the unstructured data.</li>
<li>It is scalable ten times.</li>
<li>It has a modern, responsive user interface optimized for business users which can reduce new bot development time by 80 percent.</li>
<li>It can leverage third-party AI platforms so as to automate those business processes that require additional skills such as language translation or sentiment analysis.</li>
<li>With the help of end-to-end High Availability/Data recovery (HA/DR) across bots, they ensure Business continuity is not an issue for any client.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="https://www.automationanywhere.com/products/iq-bot" target="_blank" rel="noopener">Get Details</a></p>
<h2>6. TrueSight Orchestration</h2>
<p><span style="font-weight: 400;">It was formerly known as BMC Atrium Orchestrator. It automates IT processes by coordinating workflows across different platforms, applications, and tools. It has the capability to reduce the cost of the server, network and database audits by upto 25% and reduce manual work by 90%.</span></p>
<p><span style="font-weight: 400;">It can improve quality as well performance of digital services that run-in hybrid and multi-cloud environment. They use Operator Control Panel (OCP) which is a web-based interface, which enables various operators, such as service desk personnel, network operators, and IT technicians, to run workflows in a semi-automated mode of the company's IT environment.</span></p>
<p><span style="font-weight: 400;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/99877851?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99877851?profile=RESIZE_710x" width="710" /></a></span></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>They provide best management processes for managing the entire incident resolution process to restore services quickly.</li>
<li>It enables automation of human-centric processes which involves fields and patterns.</li>
<li>The software doesn’t require any specific training.</li>
<li>It is capable of identifying and highlighting important data hidden in the unstructured data.</li>
<li>It is scalable ten times.</li>
<li>It has a modern, responsive user interface optimized for business users which can reduce new bot development time by 80 percent.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="http://www.bmcsoftware.in/it-solutions/truesight-orchestration.html" target="_blank" rel="noopener">Get Details</a></p>
<h2>7. Smart Process Automation (SPA)</h2>
<p><span style="font-weight: 400;">WorkFusion provides smart Process Automation. SPA ensures faster automation as it comes with preloaded process templates. It has components such as pre-built robotic, cognitive and exception handling for more natural configuration of custom workflows.</span></p>
<p><span style="font-weight: 400;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/99879362?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/99879362?profile=RESIZE_710x" width="710" /></a></span></p>
<h3><strong>Features</strong></h3>
<ul type="circle">
<li>They provide bots for any type of data or application. They ensure there are no idle bots through use of automatic bot load balancing.</li>
<li>With the help of centralized credentials management, they ensure data privacy across various geographies.</li>
<li>They provide lightweight but robust workflow capabilities. This allows users in an arrangement of end-to-end process and automation of giving work to right bot.</li>
<li>SPA’s analytic platform provides a single window for entire operations.</li>
<li>It has a built-in Process AutoML that can train itself on clients unique data sets in a secured environment without a data science team or third-party integrations. This results in saving of costs.</li>
</ul>
<p align="center"><a class="btn-primary btn-inline" style="background: #124c8f; border-radius: 5px; box-sizing: border-box; color: #ffffff; cursor: pointer; display: inline-block; font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-weight: bold; line-height: 2; margin: 0; padding: 10px 35px; text-align: center; text-decoration: none;" href="https://www.workfusion.com/smart-process-automation-spa/" target="_blank" rel="noopener">Get Details</a></p>
<h2>CONCLUDING THOUGHTS</h2>
<p>In this digital age, Credit Unions and banks need to adopt RPA to ensure lean operational structure and a reliable, safe and satisfactory experience for the customer. When introduced with clear approach credit unions and banks can reap the benefits of RPA within weeks.</p>
<p>Although some experts fear a loss of jobs, RPA is useful in creating new work that would be related to operations and customer services. This would undoubtedly outweigh the number of jobs lost due to RPA and result in the creation of more fulfilling jobs for employees.</p>
</div>Top KPIs for Measuring Contact Center Efficiencyhttps://culytics.com/blogs/top-10-kpis-for-measuring-contact-center-efficiency2017-10-13T07:20:26.000Z2017-10-13T07:20:26.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p>Contact centers are taking a lead role in the overall banking experience. Overall banking experience is changing for most of the members. Walking into a credit union branch is becoming a rare occurrence. Also, the role of the contact centers is changing from informational and troubleshooting to sales and purchase-related activities. This is leading to contact centers having higher sales conversion ratios compared to branches. Therefore, it is important to have a close watch on the KPIs to track the performance.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/126667005?profile=original" target="_blank" rel="noopener"><img class="align-center" src="https://storage.ning.com/topology/rest/1.0/file/get/126667005?profile=RESIZE_710x" width="710" /></a></p>
<p>Here are the ten most important <strong style="font-size: 12pt;">Key Performance Indicators (KPIs)</strong> that should be regularly tracked for efficient working of the contact center.</p>
<p> </p>
<p> <span class="font-size-3"><strong>1. </strong></span> <strong style="font-size: 12pt;">Percentage of Calls Bloc<span class="font-size-3">ked</span></strong></p>
<p> It is a first and foremost indicator that helps a particular contact center to monitor the number of calls that could not be handled by a company. These are those calls, which occur when a customer can’t interact with a customer service representative. As a result, the calls get blocked and the customer, when calls, either receives a busy tone or are routed directly to the voicemail.</p>
<p><strong> </strong>This problem arises either because there are not enough agents to handle the inbound calls or the contact center technology is not equipped enough to handle the volume of calls.</p>
<p> Regularly monitoring this KPI should not be ignored, as ignoring it would lead to a missed opportunity to connect with the customers, which at the end, can’t be afforded by any contact center.</p>
<p> </p>
<p> </p>
<p><strong> <span class="font-size-3">2. </span></strong><span class="font-size-3"> <strong>Average Time in Queue</strong></span></p>
<p>No customer wants to waste his precious hours waiting in long queues. Be it any ordinary service shop or a contact center, every customer wants to be attended quickly.</p>
<p>A contact center, thus, needs to ensure that it completely satisfies its customers within an acceptable waiting time.</p>
<p>This KPI is measured as the <strong>total time callers wait in the queues divided by the total number of calls answered by the agents</strong>. This indicator should be regularly monitored in order to know, whether your contact center is providing its callers with the services they deserve. </p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 3.  Average abandonment rate</strong></span></p>
<p>An abandoned call is a call, which is hung up by the callers even before they reach the agents.  The main reason of call abandonment might be that either the customer has reached a certain limit of their waiting time or they are getting confused by the IVR, hitting too many wrong numbers.</p>
<p>In order to retain their customers, a contact center should make sure that this abandonment rate remains below a targeted threshold. Higher call abandonment rate may shift the interests of the customers towards the competitors, which in turn will act as a warning sign for the contact center.</p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 4. Service Level</strong><strong> </strong></span></p>
<p>Every contact center provides its customers with a Service Level Agreement (SLA). An SLA is a contact center’s promise to its customers and clients, of maintaining a certain standard of service. This agreement includes a certain target that should be reached by the customer service.</p>
<p><strong> </strong>Service Level measures how often the customer service teams meet up this target – for instance, 80% of all calls answered in 30 seconds or less.</p>
<p>Service level is calculated as  [Number of calls answered within the service level threshold] / [Number of calls offered] * 100. A high value of service level indicates a high degree of customer satisfaction. It is important to frequently monitor this KPI, in order to get a baseline for future improvement.</p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 5.  First Call Resolution</strong></span></p>
<p> A customer is highly satisfied if his issues get resolved in a short span of time. In order to keep its customers satisfied, a contact center needs to regularly monitor, how well and in how much time customer issues are being resolved.</p>
<p> </p>
<p><strong> </strong>First call resolution is the KPI that measures the efficiency of a particular contact center in solving the customer queries without creating a need to transfer, escalate or returning the calls. Issues being resolved at the first call indicates a significant level of customer satisfaction and contact center efficiency.</p>
<p> </p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 6.  Average calls per members after resolution</strong></span></p>
<p><strong> </strong>It’s true that the callers prefer to save their time by getting their issues solved as soon as possible. The contact center staff should be trained to to help the callers not only with their immediate problem but also anticipate the follow-on issues that a member may come across. E.g. when a member is requesting an address change then Contact Center should be able to ask if they would also like a new set of checkbooks. Avoiding the follow-on calls may save them valuable time, thereby, increasing overall customer satisfaction.</p>
<p> Contact centers, that’s why should monitor that what are average calls each member makes even after the issue is resolved to see if it associated with any downstream process. Lower this rate would be, more a customer will be satisfied.</p>
<p> </p>
<p> </p>
<p><strong> <span class="font-size-3">7.  Revenue Growth</span></strong></p>
<p><strong> </strong>This is the indicator that measures the total amount of revenue gained with each successful call that is completed. Generally, a target revenue is set up, for example, $45 per call. The contact centers should constantly monitor their performance in order to achieve this set target.</p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 8.  Occupancy Rate</strong></span></p>
<p><strong> </strong>In order to estimate the productivity of their agents, contact center managers need to regularly monitor the occupancy rate. Occupancy Rate refers to the indicator that measures the amount of time that the agents are on call as well as completing the work associated with the calls.</p>
<p> Generally, there is no standard set for occupancy rate, but by maintaining a lower occupancy, you may require more number of agents, thereby increasing your operational costs. Also, if you maintain a higher occupancy you may overexert your agents resulting in higher and faster turnover. Hence, the occupancy rate set up should be such that it achieves higher customer satisfaction while keeping costs down.</p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 9.  Employee Churn</strong></span></p>
<p><strong> </strong>One of the main indicators that should be tracked overtime is employee churn or employee turnover rate. This is the percentage of employees who leave the contact centers to work elsewhere.</p>
<p> Employee churn can be positive or negative. If a poor performer is terminated, it will positively impact the working of the contact center, whereas if a good performer or a key person of an organization leaves voluntarily,  it may negatively impact the contact center.</p>
<p> Thus, Employee Churn Rate significantly impacts customer satisfaction, call center schedule and team morale.</p>
<p> </p>
<p> </p>
<p><span class="font-size-3"><strong> 10.  Net Promoter Score (NPS)</strong></span></p>
<p><strong> </strong>NPS is a commonly used tool for assessing customer loyalty towards the credit union. NPS is calculated based on a simple question asked by the credit unions to its customers  – “How likely is it that you would recommend that credit union to a friend or colleague?” The answer is ranked on a scale of 0-10, 0 being an unlikely score and 10 being a likely score.</p>
<p><strong> </strong>These scores are divided into three categories, 0-6 being Detractors i.e. the customers who are unhappy with a brand, 7-8 Passives, satisfied but unenthusiastic customers and 9-10 Promoters, loyal, satisfied and enthusiastic customers. NPS is calculated by subtracting the percentage difference between the Promoters and Detractors.</p>
<p> A good NPS increases the goodwill of the credit union. As contact center interacts with millions of customers over the year, with each interaction there is an opportunity to increase or decrease the NPS. Hence, contact centers have an important role in shaping up the NPS of the credit union.</p>
<p> </p>
<p><span class="font-size-3"><strong>CONCLUSION</strong></span></p>
<p>Every credit union’s success is determined by its capability to meet the growing demands of customers. Contact centers being the intermediate between the credit unions and its customers, need to timely assess these KPI’s and ensure that they are serving their customers well by selling new services, driving down operating costs, and generating more revenue through customer loyalty.  </p>
<p>These KPIs define the direction of services provided by the contact centers of your credit union and enables you to take the immediate actions towards maintaining the set targets.</p>
</div>Top Business Intelligence Technologieshttps://culytics.com/blogs/best-business-intelligence-technologies-for-credit-unions2017-08-13T22:30:00.000Z2017-08-13T22:30:00.000ZCULytics Adminhttps://culytics.com/members/CULyticsAdmin<div><div class="bestof">
<p>In a data-driven environment, Credit unions need to keep up with the rapidly transforming financial industry. Business Managers are now drawn to the use of Business Intelligence (BI) technologies for insights about customer behavior, identification of areas of improvement to further streamline operations and engagements, improvement of overall efficiency, etc. Modern BI technologies put the power of data in the hands of the business users from IT-led reporting.</p>
<p><a href="{{#staticFileLink}}112374129,original{{/staticFileLink}}" target="_blank"><img class="align-center" src="{{#staticFileLink}}129666509,RESIZE_710x{{/staticFileLink}}" alt="129666509?profile=RESIZE_710x" width="710" /></a></p>
<p><span style="font-weight:400;">According to Gartner, a leading industry analyst firm, BI is an umbrella term that includes the application, infrastructure, technologies and best practices that enable access to and analysis of information to improve and optimize decisions and performance,</span></p>
<p><span style="font-weight:400;">Unlike other data fields like machine learning, big data, etc. BI focuses on interpreting data to provide business leaders with the visualization and insight that data can provide, which positions them to make better decisions. BI is not same as big data which primarily focuses on the generation and management of huge amounts of varying data from a variety of sources. Machine learning involves developing statistical models from datasets to help organizations do a better job of forecasting, while BI is a system that has the ability to handle data generation, collection, analysis, reporting, and forecasting.</span></p>
<p><span style="font-weight:400;">Credit Union data leaders face countless choices when selecting the right BI tool that will deliver value to them and give them an edge over competitors.</span></p>
<h1>Key considerations when acquiring right business intelligence technology</h1>
<p><span style="font-weight:400;">Software acquisition is a critical concern to firms worldwide, and the magnitude of its impact on the inner workings of firms is expected to grow. BI is no exception. Currently there are many BI products ranging in power from simple reporting technologies to sophisticated BI platforms. Business owners and chief information officers must consider various factors in their decision making.</span></p>
<p><span style="font-weight:400;">Here are the key considerations to keep in mind when acquiring new BI Technology.</span></p>
<h2>Integration and Compatibility with existing technologies</h2>
<p><span style="font-weight:400;">The more compatible a BI tool is, the higher the chance it will be adopted by the organization. Most banks already have operational systems like ERP or CRM in place, so they will want a BI tool to be an ‘add-on’ to their existing IT set-up rather than a stand-alone system. Most financial institutions already have existing database technologies as well as enterprise portals. Sixty percent of organizations are analyzing and integrated data from at least six data sources according to a Ventana research study. Adding BI technologies to the existing systems will cut down implementation costs, improve product adoption among end-users, increase productivity and efficiency and permit users to blend data from various sources while creating relationships with them.</span></p>
<h2>Functionality</h2>
<p><span style="font-weight:400;">One of the key criteria every chief information officer must consider is the functionality of the BI tool they wants to employ. Since there are so many BI technologies in the market, these technologies offer different functions and it is important for the information officer to understand the business key performance indicators (KPIs) and the right tool to analyze them. Data discovery is an important function when considering purchasing a BI tool. This feature allows the users to get better understanding of the data from different sources within their organization. Another key feature one must consider is the associative user experience. Most Traditional BI solutions use predefined paths for data exploration while others allow users to take whatever route they want (they work the way the user’s mind works). The BI tool must have a variety of visualization tools like bar, line, pie, area and radar charts as well as pivot tables, heat maps and the ability to combine two or more of the tools .</span></p>
<h2>Education and Ramp-up</h2>
<p><span style="font-weight:400;">The sole purpose of a business intelligence tool is to put the power of data in the hands of business users. Business users should be able to ramp-up on the technology quickly otherwise it becomes tedious to maintain. In a study conducted by Information Week to find the most important factor for realizing the value of a software deployment, 70% of the respondents chose “how effectively the user community adopted the software.” There is a strong correlation between user-friendliness and user adoption. The shorter the learning curve is for training a new user, the better it is. Training the users on how to use the BI tool is a challenge because there is no single way to approach it. The BI tool must provide collaborative materials like audio-visuals and ‘how-to’ tutorials on the user’s profile which can help bring the user up to speed which increases the adoption rate.</span></p>
<h2>Maintenance</h2>
<p><span style="font-weight:400;">The Maintenance of a BI platform in a financial institution plays a major role. A study shows that 90% of software life cost is related to its maintenance phase. The BI vendor must be committed to constantly improve the software since the needs of a business change swiftly. Business owners and CIOs must note that either an IT employee or an outside third party will have to review the KPIs on the scoreboard/dashboard, modify security settings, or perform software updates. These tasks can result in a large maintenance cost down the road.</span></p>
<h2>Price</h2>
<p><span style="font-weight:400;">Cost is obviously an important factor for any business expenditure. It is wise to ensure that the selection of a BI tool is based on fit of purpose measures (the number of users, the number of metrics tracked, the duration/number of the license). In a survey of 20 enterprises in the SME sector that have implemented BI systems, 18 said the most important factor to consider when implementing a BI system is the price of the system and its implementation. The BI tool price covers internal implementation labor (deployment costs), data warehouse hardware and software, training costs and ongoing support labor (maintenance costs). As an organization evolves with their operation processes, costs resulting from upgrade policies, consultation tool customization must be considered.</span></p>
<h2>Support and Services</h2>
<p><span style="font-weight:400;">Often times when a BI system has been implemented, glitches will pop up or an end-user can’t find out how to work a particular feature on the system. The CIO must address which kind of support service will be available after the implementation of the system. Some solution companies may require you to hire dedicated support staff of your own or train an in-house staff. The options mentioned above come with their own dedicated costs.</span></p>
<h2>Deployment</h2>
<p><span style="font-weight:400;">The mode of deployment affects the selection of BI system because of the implementation time and cost. For traditional client server architecture, the client software must be developed and installed on every client node whereas for web based architecture, the web browser will be used to connect with the server. This approach will save cost and time.</span></p>
<h2>Market Reputation</h2>
<p><span style="font-weight:400;">Start by reading through reviews online or get offline referrals who may have used the platforms that you are looking for. Check if the offering is from a reputable vendor.</span></p>
<p>Determine as well if the BI technologies you’re considering are listed in the <a href="http://culytics.com/communities/solutions-gallery">CULytics Solution Gallery</a> and have reviews from peer credit union leaders. Knowing that the vendor has good reviews ensures that it has a high level of commitment for the credit union industry. Moreover, a reputable vendor helps build trust and eases the worry on whether the company is investing on the appropriate BI technology.</p>
<h1>Best BI Technologies for Credit Unions:</h1>
<div class="entry-item non-partner">
<div class="entry-header">
<div class="detail"><!--div id="ibi" class="vendor">
<h2>1. Information Builders</h2>
<p><span style="font-weight: 400;">Information Builders is a 40-year-old privately held software company whose vision is to become the leader in Business Intelligence, Data Integration and Data Quality Solutions. Information Builders has a lot of BI services which are all integrated into WebFOCUS BI and analytics platform.</span></p>
</div>
<div class="logo"><img src="http://storage.ning.com/topology/rest/1.0/file/get/2161053?profile=RESIZE_320x320" alt="2161053?profile=RESIZE_320x320" width="200" /></div>
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<div class="entry-summary">
<h3>Considerations</h3>
<p><span style="font-weight: 400;">Most CIOs choose Information Builders WebFOCUS because of its ability to process large amount of data in a short period time based on its architecture. It includes built-in ETL and data capabilities (it can blend disparate data together) and robust BI administration.</span></p>
<p><span style="font-weight: 400;">In an era where data can be fetched from different sources, WebFOCUS has the capabilities to integrate with third party products with REST API. Information Builders WebFOCUS offers more than 300 different connectors including DB2, Greenplum, etc. With this tool, one can seamlessly manage big data.</span></p>
<p><span style="font-weight: 400;">The platform offers users the option to choose either the native or web apps. With the WebFOCUS app studio, users can build apps and run them on any browser or device. Another module in WebFOCUS pack is Mobile Faves that enable users to access the reports and dashboards either on IOS or Android devices.</span></p>
<p><span style="font-weight: 400;">Since Information Builders WebFOCUS has a lot of modules and most work differently, the end-user must invest lot of time and resources to understand each module to know how to run them.</span></p>
</div>
</div>
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<div class="entry-header">
<div class="detail"> </div-->
<h2>1. BIRST</h2>
<p><span style="font-weight:400;">BIRST has evolved as one of the premier BI analytics tool in this sector. Built on top of a next-generation multi-tenant cloud architecture and driven by machine learning technology patents, this tool allows organizations to get consistent data at a relatively fast pace.</span></p>
</div>
<div class="logo"><img src="http://storage.ning.com/topology/rest/1.0/file/get/2161028?profile=RESIZE_320x320" alt="2161028?profile=RESIZE_320x320" width="200" /></div>
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<div class="entry-summary">
<h3>Considerations</h3>
<p><span style="font-weight:400;">A key phase of data analysis is the extract, transform and loading phase. Where most BI technologies require a solution to perform this process for them, with BIRST, raw data is imported into this platform, it automatically carries out ETL to process the data making it ready for deep analysis and reporting. BIRST offers an automated ETL-process which saves the organization the cost of purchasing an independent ETL solution.</span></p>
<p><span style="font-weight:400;">BIRST’s platform is cloud-deployed system. For a system to be sole cloud based it must be relatively flexible and scalable compared to other BI technologies. Another advantage this option offers is that the total cost of deployment and implementation is relatively cheap since there is no need for on-site equipment and installation.</span></p>
<p><span style="font-weight:400;">BIRST offers a wide range of connectivity with CRM and ERP systems as well as other BI technologies like Salesforce and Tableau. This feature allows developers to build their own connections with other third-party vendors to explore more possibilities.</span></p>
<p><span style="font-weight:400;">Although BIRST offers good user interface for end-users, they may be required to go through some training to be brought up to speed to fully implement the software features. Another reason why the learning process is difficult is the limited online resources/ materials. Compared with other BI technologies that have vibrant online user communities, BIRST has a lot of work to do in growing their help community.</span></p>
<p><span style="font-weight:400;">Although BIRST offers a better deployment cost thanks to its web-based approach, the pricing plan may still turn off prospects who are interested in purchasing their tool because their price plan is not transparent.</span></p>
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<div class="entry-header">
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<h2>2. Domo</h2>
<p><span style="font-weight:400;">Rated as a robust and effective self-service tool, Domo finds itself among other top BI technologies as a result of its wide connectivity and cloud based system. Most users prefer Domo because of its approach focusing on top management executives experience with its user friendly interface to help make quality decisions.</span></p>
</div>
<div class="logo"><img src="http://storage.ning.com/topology/rest/1.0/file/get/2161081?profile=RESIZE_180x180" alt="2161081?profile=RESIZE_180x180" width="100" /></div>
<div class="entry-summary">
<h3>Considerations</h3>
<p><span style="font-weight:400;">Domo is positioned at the top of the BI niche because it is a mobile-compatible platform with cloud delivery that gives top executives freedom to access reports and dashboard via IOS and Android apps on the go. All the functionality on the desktop is available on the mobile.</span></p>
<p><span style="font-weight:400;">With the Domo App store, users can create and customize their apps and blend data from different sources (third-party integrations) to perform a robust data analytics.</span></p>
<p><span style="font-weight:400;">Aside from its friendly user interface that enables users to develop a story via its data storytelling toolkits, Domo Buzz allows employees to communicate in real time as well as trigger instant notifications as significant data changes occur.</span></p>
<p><span style="font-weight:400;">Although most companies are excited about the cloud deployment Domo offers, some companies still prefer on-site deployment especially when they have existing on-site solutions. This option might be less business friendly for financial institutions that need an ‘add-on’ solution.</span></p>
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<h2>3. Microsoft Power BI</h2>
<p><span style="font-weight:400;">Launched in the 2013, Power BI is Microsoft’s data visualization solution. This is a cloud based BI and analytical service that has a range of tools that can meet an organization’s needs. This self-service BI tool was planned as an add-in for the Microsoft ecosystem but evolved as a functional tool used by banks to systematically scrutinize their data and share insights. Power BI offers fully customizable visualizations options from Bullet Chart, Calendar Visualization, Table, Heat Map, etc.</span></p>
</div>
<div class="logo"><img src="http://storage.ning.com/topology/rest/1.0/file/get/2161009?profile=RESIZE_320x320" alt="2161009?profile=RESIZE_320x320" width="200" /></div>
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<div class="entry-summary">
<h3>Key Considerations</h3>
<p><span style="font-weight:400;">With the Power BI desktop app as well as 1GB Data Storage Capability, one can import flat files on their system and create, view and share personal dashboards and reports for free. For a subscription fee of $9.99/user/month, an organization can acquire the tools to create, publish and view organizational content packs while consuming live data sources with full interactivity and other features.</span></p>
<p><span style="font-weight:400;">A Microsoft Excel User can comfortably use Power BI with little or no support thanks to the data analysis expressions (DAX) scripting pattern.The DAX scripting style is a relatively simple construct used to calculate columns and measures.</span></p>
<p><span style="font-weight:400;">With a robust community of millions of users and access to learning materials via independent learning platforms like edx.org, new users can hit the ground running in little time without the aid of customer support.</span></p>
<p><span style="font-weight:400;">Power BI has a connectivity pack that can seamlessly connect data from various solutions like Google Analytics, CRM, Salesforce and other open standard-based APIs. This allows data analysts to pull data from various sources into a tool ready for analysis.</span></p>
<p><span style="font-weight:400;">Every data scientist know that data cleansing is part of the extract, transform and loading phase of data science and a BI tool must have the ability to clean the data especially when pulling from an external source. This feature is limited in Microsoft BI.</span></p>
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<h2>4. MicroStrategy</h2>
<p><span style="font-weight:400;">MicroStrategy has evolved through time and is still most data analyst’s choice for carrying out data analysis as well as data visualization.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">With the use of a mobile device, end-users can prepare data ‘on the fly’. MicroStrategy is available on Windows, Android, Mac, Linux and iPad, so it offers a wide range of access that allows users to engage with this platform and carry out analytics.</span></p>
<p><span style="font-weight:400;">Leading B2B companies use MicroStrategy because of its five V’s effects: Volume (it can handle data that up to petabyte), Variety (it can analyze structured data and unstructured data), Velocity (the data processing time is relatively fast), Veracity (the processed data is trustworthy) and Value (business users can use the processed data to make quality decisions)</span></p>
<p><span style="font-weight:400;">Most end-users of MicroStrategy have noted that there is a steep learning curve to the technology and there is a call to improve their KNOWLEDGE BASE Site.</span></p>
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<h2>5. SAS Visual Analytics</h2>
<p><span style="font-weight:400;">An integral part of SAS Enterprise Solutions, SAS Visual Analytics combines BI and analytics to discover and gather insights from enterprise data. The use of this tool has helped eliminate guesswork and provides a platform for senior executives to spot trends, identify patterns and project future outcomes with analytics.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">SAS has an built-in business analytics framework to help data analysts navigate and explore the workspace so designers and programmers can easily build reports and dashboard.</span></p>
<p><span style="font-weight:400;">By adopting the multi-dimensional expressions (MDX) based functionality, SAS has unleashed the possibilities for developer to build highly customized reports that can carry out drill down analysis. This model eliminates one-dimensional reporting.</span></p>
<p><span style="font-weight:400;">About 50 percent of computer users use Microsoft Office on their system, SAS offers strong synergies with MS Office.</span></p>
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<h2>6. Sisense</h2>
<p><span style="font-weight:400;">Sisense is one of the finest BI technologies in the industry because of its focus on investing in the technology at the foundation of its product. Sisense offers companies that have limited IT resources and big data to analyze terabytes of data by multiple users through a single commodity server thanks to its in–memory, in-chip and single-stack architecture.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">One feature of Sisense that excites its users is the drag-and-drop user interface and eye-grabbing visualization on an interactive web-based dashboard. This encourages those with little or no programming experience to carry out quality data analysis regardless of its volume.</span></p>
<p><span style="font-weight:400;">Sisense has a unique capability to handle complex and disparate data thereby eliminating the need for multiple tools like data warehousing or OLAP cubes to analyze big data all on a single commodity server.</span></p>
<p><span style="font-weight:400;">Since Sisense can run on a single commodity server independently, this causes the demand on the company’s IT department is less compared to other BI technologies. This feature encourages simplicity in the system as well as less maintenance costs.</span></p>
<p><span style="font-weight:400;">Sisense’s dashboards are web-based. When accessed on real time, they are great but it doesn’t offer powerful scheduling or print features for reports. Most business users usually generate reports on their dashboard and carry out presentations outside their BI tools via other formats. One drawback is the lack of report sharing Sisense provides.</span></p>
<p><span style="font-weight:400;">Sisense offers limited mobile functionality, it’s not as dynamic as the rest of the platform which makes for poor user experience on the go. This could turn off some prospects.</span></p>
<p><span style="font-weight:400;">Most Credit unions employ BI technologies for reporting and dashboard creation as well as predictive analytics. This predictive analytics mode will help them to improve their business processes, enhance their decision making, etc. Sisense’s predictive analytics functionality needs more maturity before it can become the right tool for a financial forecasting task.</span></p>
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<h2>7. SpotFire</h2>
<p><span style="font-weight:400;">TIBCO Spotfire is a BI tool that focuses on providing users with executive dashboards, data analytics and data visualization in three different packages: desktop, cloud and platform. This tool is designed to meet the users needs whether it is in a small organization or a group of companies. SpotFire’s core capabilities are data access, wrangling, visualizations and maps which can help a user meet their business needs.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">Spotfire offers a recommendations wizard that suggests best-practice visualizations based on the data the user selects. This is a mild hand-support Spotfire provides to support inexperienced users. Other support TIBCO Spotfire offers are online tutorials, documentation as well as a vibrant online community.</span></p>
<p><span style="font-weight:400;">SpotFire native’s connectivity to R projects enables it to deliver advanced statistical analytics, data augmentation and predictive/prescriptive analytics in real time. With this feature, the end user can drill down to find root causes of business issues.</span></p>
<p><span style="font-weight:400;">One reason why most companies employ TIBCO Spotfire is its ability to share reports and other analytical resources quickly and effectively with other users in basic formats like PDF/MS Powerpoint. This process can automated.</span></p>
<p><span style="font-weight:400;">Some users may find it difficult to customize visualization. This limits the user to fixed visual tools that might not capture the information they want to showcase.</span></p>
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<h2>8. Tableau</h2>
<p><span style="font-weight:400;">Tableau has become the gold standard in business intelligence and is most the data analyst’s choice tool. Tableau offers both desktop and online platforms which allows users to access the software anywhere (in the cloud and on site). Given that most credit unions have a lot of member PII (Personally Identifiable data) and sensitive data, Tableau cloud usage may not preferred by them.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">Tableau’s data visualization feature is high quality and it makes the tool stand-out among others. Its robust drill down and visualization tools makes data approachable for any data users. Tableau’s web browser edit capabilities gives business users light-weight editing capabilities for the dashboards within browsers without using desktop licenses.</span></p>
<p><span style="font-weight:400;">In an era where users access data on the go, Tableau has mobile apps for IOS and Android giving users mobility and data on their mobile devices. This robust mobile responsive tool offers web authentication, making it easier to have a seamless sign-in experience even in a proxy set-up.</span></p>
<p><span style="font-weight:400;">With its simple drag and drop features, this tool allows users to easily access and analyze data, build reports and dashboard and share key insights across the company.</span></p>
<p><span style="font-weight:400;">In their latest release, Tableau has improved on their REST API so BI developers can integrate with external sources using the get request. With their connectors, you can interact with other data sources like SAP, big data and DB technologies to improve the data analytics quality.</span></p>
<p><span style="font-weight:400;">When a rookie signs up on Tableau, he/she won’t feel alone thanks to the number of users in the community. The community has various forums and groups where users can interact with each other. Blogs and release notes are also available as well as the resource library that offers challenges and dashboard exhibition.</span></p>
<p><span style="font-weight:400;">For a small business who wants to acquire a BI tool for their data analysis, Tableau might not be the most cost effective choice for them. For mid-size financial institutions, they will need to install Tableau Server for enterprise service.</span></p>
<p><span style="font-weight:400;">For a credit union institution, every staff should be available to receive certain reports at a schedule defined by the administrator. This feature is not fully functional in tableau. For end-users to export or print certain reports, they must manually initiate the process and everything they need to extract data from the platform unlike other technologies which are automated.</span></p>
<p><span style="font-weight:400;">Although Tableau has a wide range of data connectivity from Hadoop, SQL and even cloud sources, it can improve on its data integration capabilities when preparing the data for analysis. Tableau is great when there is a data mart or well-defined cubes but in the absence of these functions, it is a not tool for data modeling.</span></p>
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<h2>9. QlikView</h2>
<p><span style="font-weight:400;">Qlikview is another very popular BI technology. It is well known for its product quality as an integrated BI platform that comes bundled with adequate demos and training manuals. Qlikview is easily deployable and configurable, and starts producing results very quickly.</span></p>
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<h3>Considerations</h3>
<p><span style="font-weight:400;">QlikView focuses speed, and users can locate and gather information on the system faster than other BI platforms. Its search is likened to Google’s search tool.</span></p>
<p><span style="font-weight:400;">Using an in-memory engine approach, Qlik enables users to discover and analyze data for patterns that most BI technologies can’t offer. With this tightly controlled analytics experience, organizations can explore their data and find insights that will position them to make better decisions. Data can be refreshed in real-time thanks to its in-memory processor.</span></p>
<p><span style="font-weight:400;">Unlike other BI technologies, Qlik provides a report scheduling and distribution feature called NPrinting. This enables users to share reports in different formats (MS Office and PDF).</span></p>
<p><span style="font-weight:400;">Designed to handle large amounts of data, Qlikview can do this at a relatively fast pace but this features depends sole of the server RAM. CIOs must take note of the server RAM size before considering loading larger sets of data.</span></p>
<p><span style="font-weight:400;">Although Qlikview has lot of online resources as well as a vibrant user community, one has to have a good knowledge of SQL as well as basic programming skills since developing reports on Qlikview requires a bit of coding.</span></p>
<h1>Conclusion</h1>
<p><span style="font-weight:400;">The enormous amount of data generated in the financial sector due to the daily transactions made by customers at the go, ever-changing Forex rates, interest rates etc. There is a need for credit union leaders to make timely decisions in a data driven world. The business intelligence solutions have the capacity to unearth the potentials these data have and help credit union leaders answer key questions that involves their operations, customer behavior and even their product cycle. As financial institutions become more dependent on information, collaboration and integration with multiple data sources (internal and external), the need to use the right BI tool to help management make the data driven decisions is imperative. Buying decision play a major in every organization hence data leaders and CEO of credit unions must possess the appropriate knowledge for the right tool as well as employ the tool that will serve their organization now and tomorrow.</span></p>
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<div class="entry-headline media-frame"><a class="media-img avatar-frame" href="/members/AkpofureEnughwure"><img class="photo avatar" src="http://storage.ning.com/topology/rest/1.0/file/get/13924610?profile=original" alt="Akpofure Enughwure - Contributing Writer" width="90" height="90" /></a>
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<h3 class="entry-title"><a href="/members/AkpofureEnughwure">Akpofure Enughwure</a></h3>
<h4 class="entry-profile">Contributing Writer</h4>
<div class="entry-byline">Akpofure Enughwure is a Business Intelligence Developer, Data Analyst with Engineering Background. He loves the combination of science, art and exploration that make reporting and data analysis so much fun. There is always a new request - a new challenge - that keeps the work fresh and invigorating.
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