Methodologies Used in Banking: Banking Manual System

2224 Words5 Pages

Before the BI in banking manual systems were prevalent because the computers were not used extensively and this was when the banking operations were small and limited mainly to branches. The non-computerized system of banking involved the manual recording of branch transactions. The generation of rudimentary reports from the manual ledgers and were consolidated with those of other bank branches into a final report for the bank as one comprehensive transaction. In this case the BI was limited to simple reporting of banking transactions only (Troy, 2010). As the banking sector grew in size, geographical footprint and channels their transactions, jumped multifold. The manual reporting was time consuming and filled with redundancy and error prone, it proved unequal to the task and paved the way for automated systems. The bank began to wholly depend on technology to manage large volumes of data. As result of adapting technology and growth of banking the computers were widely used to eliminate the errors that were introduced by the manual systems. The introduction of the modern BI has led to innovation of management information system (MIS) that helps top analyze the data that gave insightful meaning (Troy, 2010).
Methodologies used in banking
Measurement: it is a program that develops a hierarchy of performance metrics and helps the banks to benchmark to inform the top management about progress towards enterprise objective.
Analytics: it is program that builds quantitative processes for an enterprise to arrive at optimal decision and hence able to perform business Knowledge Discovery. It frequently involves data mining, predictive analytics, statistical analysis, business process modeling and predictive modeling (Yarong & Ling, 2006...

... middle of paper ...

...8590?accountid=45049
Qlikview. (2011). Banking BI Solution - Business Intelligence (BI) for Banking. Retrieved January 25, 2014, from Qlikview.com: http://www.qlikview.com/en/explore/solutions/industries/financial-services/banking
Troy, H. (2010). Social Intelligence: The Next Generation of Business Intelligence. Business Intelligence Journal, 2010, Vol. 15 Issue 3 , 7-13.
Ubiparipovic, B., & Durkovic, E. (2011). Application of Business In the Banking Industry. Management Information Systems, Vol. 6 (2011), No. 4, , 023-030.
Yarong, C., & Ling, L. (2006). Deriving information from CRM for knowledge management—a note on a commercial bank. Systems Research & Behavioral Science, 23(2) , 141-146.
Zeng, L., Xu, L. S., Wang, M., & Wu, W. (2007). ‘Techniques, process, and enterprise solutions of business intelligence’. Conference on Systems, Man, and Cybernetics . Taipei.

Open Document