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Advanced analytics is transforming the way financial institutions interact with their clients and run their organizations. It provides tools that make the impossible of yesterday the common-place of tomorrow.
These institutions understand that advanced analytics has the potential to inform business strategy and improve the performance of operations. The ability to structure, manipulate, interpret and derive insights from data is core to an organization’s survival.
Starkmont Financial is at the forefront of this journey, helping asset managers, insurance providers and other financial institutions become AI-enabled organizations of the future. Regardless of where an organization is in its journey to become data-driven, we develop customized and scalable approaches based on leading-edge practices, knowledge graphs, machine learning, robotic process automation and intelligent automation. The combination of Starkmont Financial’s domain experience, technical acumen and technology-agnostic approach offers financial institutions the skill set to help solve complex problems across the organization.
Deploying an advanced analytics solution can help generate a range of benefits, such as:
· Building personalized customer experiences through a holistic view of the customer
· Enhancing revenue by acquiring new customers, deepening relationships, and growing loyalty
· Reducing risk and improving compliance functions with analytics that improve timely detection of adverse incidents and behaviors
· Improving and designing better operations by removing unnecessary procedures and automating manual functions
Our approach
We understand that in analytics, defining a business problem in the right way is as important as the statistical, mathematical and technical solution that follows. Through rapid prototyping focused on a field-testable solution, we can validate opportunities and help build the case and momentum for change.
Our advanced analytics team leverages change management to help our clients realize the full benefits of these solutions. Further, we involve the end users in an inclusive rollout process, thus increasing likelihood of eventual adoption and success.
Analytics activities tends to fall into three areas:
· Descriptive analytics (hindsight): The analysis of past performance to help the business understand its position and past performance.
· Predictive analytics (insight): Predicting or identifying the probability of future events.
· Prescriptive analytics (foresight): Prescribing the best course of action in a given situation.
Advanced analytics techniques can be used in support of all of these outcomes, but are potentially most useful in helping finance teams offer their organizations more predictive and prescriptive outputs.
Data analytics entails long-term investment but, by unlocking the potential in data, the finance function can help inform wider strategic decisions and help better understand customers, competitors, suppliers and employees.
One thing is clear for any size or type of organization: strong data and technology skills will be a pre-requisite to understanding, extracting and manipulating data, and perhaps to challenge the assumptions and output of analytics. Finance professionals will also need training in how best to leverage and present the insights provided.
Advanced analytics is transforming the way financial institutions interact with their clients and run their organizations. It provides tools that make the impossible of yesterday the common-place of tomorrow.
These institutions understand that advanced analytics has the potential to inform business strategy and improve the performance of operations. The ability to structure, manipulate, interpret and derive insights from data is core to an organization’s survival.
Starkmont Financial is at the forefront of this journey, helping asset managers, insurance providers and other financial institutions become AI-enabled organizations of the future. Regardless of where an organization is in its journey to become data-driven, we develop customized and scalable approaches based on leading-edge practices, knowledge graphs, machine learning, robotic process automation and intelligent automation. The combination of Starkmont Financial’s domain experience, technical acumen and technology-agnostic approach offers financial institutions the skill set to help solve complex problems across the organization.
Deploying an advanced analytics solution can help generate a range of benefits, such as:
· Building personalized customer experiences through a holistic view of the customer
· Enhancing revenue by acquiring new customers, deepening relationships, and growing loyalty
· Reducing risk and improving compliance functions with analytics that improve timely detection of adverse incidents and behaviors
· Improving and designing better operations by removing unnecessary procedures and automating manual functions
Our approach
We understand that in analytics, defining a business problem in the right way is as important as the statistical, mathematical and technical solution that follows. Through rapid prototyping focused on a field-testable solution, we can validate opportunities and help build the case and momentum for change.
Our advanced analytics team leverages change management to help our clients realize the full benefits of these solutions. Further, we involve the end users in an inclusive rollout process, thus increasing likelihood of eventual adoption and success.
Analytics activities tends to fall into three areas:
· Descriptive analytics (hindsight): The analysis of past performance to help the business understand its position and past performance.
· Predictive analytics (insight): Predicting or identifying the probability of future events.
· Prescriptive analytics (foresight): Prescribing the best course of action in a given situation.
Advanced analytics techniques can be used in support of all of these outcomes, but are potentially most useful in helping finance teams offer their organizations more predictive and prescriptive outputs.
Data analytics entails long-term investment but, by unlocking the potential in data, the finance function can help inform wider strategic decisions and help better understand customers, competitors, suppliers and employees.
One thing is clear for any size or type of organization: strong data and technology skills will be a pre-requisite to understanding, extracting and manipulating data, and perhaps to challenge the assumptions and output of analytics. Finance professionals will also need training in how best to leverage and present the insights provided.
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