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Banking Executive Data Quality Dashboard
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While they may have access to more data than ever before, many banks still don’t have the capabilities they need to manage that information as effectively as possible – particularly when it comes to extracting business insights from the data. In fact, many still rely on spreadsheets and manual processing for data analysis. Plus, even when they receive data driven insights, banking executives often have a hard time trusting the underlying data. That can be a big problem in banks that are looking to drive smarter decisions using tremendous volumes of data.
Understanding the scale and scope of data quality problems is the first step toward fixing them. That’s one reason why Deloitte has developed a dashboard for monitoring data quality. This solution uses advanced visualization to provide visuals such as trending to help executives hone in on the business processes and data elements that require their immediate attention. This data quality dashboard also defines several data quality metrics that can help executives determine the potential financial impact of data quality problems many of which can be measured against customized targets. Finally, the dashboard provides traceability back to the source information to help analysts to resolve the issues.
Our data quality dashboard for banks can provide a host of advantages to executives looking to make smarter decisions using data driven insights. Here are a few of the benefits clients tell us they find most valuable:
- Understand the sources of data quality problems
- Identify which parts of the business are most affected
- Quantify the risk of data quality problems in financial terms
- Set clear priorities for resolving data problems
- Enable continuous quality monitoring and management
- Reduce long-term exposure through consistent quality reviews
If you think a data quality dashboard could be useful in your organization, we should talk. Please reach out to any of us to get the conversation started.