"The dilution of information as it passes up and down the hierarchy, and horizontally across departments, can undermine the effort to focus on common goals."Mihaly Csikszentmihalyi
Here’s a breakdown of what happens in each phase: -
We scope and define the Bank’s reporting requirements. We carry out a deep analysis of the Banking system, and how Financials and Risk numbers are currently put together.
After the initial information gathering and consolidation of material, the high level design of the BI solution including where, when and how information is retrieved will be established. This is compiled in a ‘Project Charter’ which provides a full planned and scheduled rollout of the production application, the programme for the IT department and the induction process for end users.
Phase Two involves the logical design of the solution. This provides the Bank with the first draft and it will detail and define the future expectations of the solution.
Once the design – and the deliverable - has been agreed, a prototype can be created, validated and finally modified to ensure the user requirements and expectations are clearly defined.
This is often the first time that a client can see what they are going to get and they can then start to fully assess what the benefits will be to the business in the future.
The initial emphasis of this phase focuses on thorough Data Analysis and Quality Assurance of the underlying Banking system as poor data means poor decisions. We get a detailed understanding of where exactly the data relevant to Risk and Finance reporting is stored in the Banking system.
Data is then transposed into an applicable Extract, Transformation and Load (ETL) process ‘blueprint’ which will in turn, cleanse, enhance and ultimately populate the solution using applicable programming and scripting technology.
The solution itself is then physically constructed into an architecture, which allows business specific and performance critical interrogation and is verified in terms of data structure and data accuracy.
The final component of this phase is to incorporate an end-user reporting technology from which interrogation and production reporting of the underlying solution will be possible.
This phase includes the installation and configuration of hardware, networking and software, as well as communicating with and educating the user base and IT department.
Relevant training prior to deployment is of paramount importance to the success of the BI solution. In addition, progressive training at periodic intervals helps the user base to get the most from their implementation ensuring high acceptance and quick return on investments.