Business Intelligence Misconceptions Within the Financial Institution

on Wed, Aug 28,2019 @ 04:59 PM | By Vikash Sethi | business process management mlsconsulting
Last September I took a trip to Tanzania, cue The Lion King soundtrack, I did go on a safari. We did a two-day safari through the Tarangire National Park and around the Ngorongoro Crater. Based on what I had read, pictures I had seen, and television shows I had watched, my perception was that these parks would be crawling with wild animals or at least they would be clustered around watering holes. In reality, it took a lot of driving through the park to view small groups of animals sporadically. While still an amazing experience, it turned out to be so different than I imagined. Unfortunately, the only area that was really crawling with animals (mostly monkeys) was the picnic area which resulted in half of my lunch being hauled away by a small monkey. When experiencing something completely new that you have studied and prepared for the first time, there will almost always be some ’perception versus reality’ issues. Just like the African wild was to me, business intelligence (BI) can be new frontier for most financial institutions. In order to better understanding BI and create the right expectations, there are two common misconceptions that need to be cleared up.
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