SETTING UP A DATA WAREHOUSE WITH PROACTIVE DASHBOARDS AT A FINANCIAL-SERVICES PROVIDER
THE REQUEST
A financial-services provider that specialises in supporting government agencies came knocking on ITDS’ door with a data issue. This client wanted to develop various financial and commercial dashboards, but lacked the necessary overview and structure in its current data storage. The data originates from various independent source systems (including CBS (the Netherlands’ Central Bureau of Statistics), municipalities and internal sources). To use the data for both internal and external reporting, it had to be structured and reconciled in a single, central data warehouse. The client then wanted to use this new data structure for financial and commercial dashboards. A challenge for our data experts to really get their teeth into!
OUR APPROACH
The client’s determination to structure its data was the starting point for setting up a more data-driven organisation. The process that would improve its data management would comprise two phases: setting up a data warehouse and developing several dashboards that would offer insights into the financial side of the business operations.
Our first step, therefore, was to set up a data warehouse, a central data and information repository that gives the organisation valuable insights on which to improve its decision-making. Previously, the data was exported and structured manually. This was both time-consuming and risky, with a significant probability of errors. This process has now been controlled and automated by our consultants. Data is now automatically retrieved via an API (Application Programming Interface), ensuring that the financial administration department can communicate directly with the data warehouse. Thanks to this data warehouse, the data is now safe, suitably structured and thus usable for dashboarding.
Phase two was building proactive and automated dashboards that, at a glance, give the client the insights it needs to improve processes and make data-driven decisions. Before engaging the services of ITDS, the client used a few dashboards based on Excel, which is often not the go-to option for dashboards. To ensure that data and information is displayed in real-time, a program like Power BI is much better. What we therefore did was to emulate the client’s current Excel dashboards in Power BI and then link them to the data warehouse. The data flow through the API now automatically feeds the dashboards with real-time data.
THE RESULT
With our help, this financial-services provider has put down a robust foundation for its data structure. With the data warehouse as the central storage point for data, a single source of truth has been established, which means that data now adds real value to the organisation and its customers. We have enabled the client to offer various reports in service form to municipalities, giving them insight into the financial situation of their residents. Furthermore, many time-consuming processes have been automated, giving the client more time for other important business processes. The bottom line is that this financial-services provider can now generate high-quality reports and make data-driven decisions.
