|Acknowledging the role of data-driven curation as a key driver for customer retention and continued business growth, Shihan Bank set to revamp its infrastructure to gain a better understanding of internal and external data points. Led by Shihan Bank’s big data center, it created a visualization analysis tool that allowed employees, from project owners to decision makers, to access meaningful, value-adding insights from data to generate new ideas to address issues on customer service, product and service development, sales, and risk management. For data storage and analysis, the bank employed a metadata referencing system and subject-based data market, respectively. Aside from its dashboard and custom reports, the platform became an integral part of transforming Shihan Bank’s work culture from a traditional system to a real-time and data-directed collaborative environment.
As a result, report generation time was cut by 83%, multidimensional reports were produced, and the average time spent on creating analysis reports was shortened from one month to one week. By going beyond intuitive understanding, the system gave an in-depth profile of target customers and suggested alternatives to be developed as action plans. As of May 2019, 14 business groups composed of 121 employees are actively using this platform, with the number projected to increase in the months to come.