TIBCO Spotfire recently sponsored an event focused on analytics and visualization in the financial services industry. Spotfire is an Attivio Platinum Partner and the event delivered a day full of insights, thought leadership and innovative ideas. In addition to Attivio's presentation, which featured Julio Gomez (GM of Financial Services) and Rik Tamm-Daniels (VP of Technology), the event also included speakers from CEB TowerGroup, Ernst & Young and Teradata.
Analytics in the Financial Services IndustryThe widespread use of analytics in the financial services industry is hardly breaking news. But it is important to note that there was a recurring theme that emerged: the increasing variety of data sources now being used to power the calculations. For example, as noted multiple times throughout the day, there is a growing trend toward leveraging unstructured data & content as a key input. Firms are no longer relying solely on the information in their data warehouse and CRM, but instead incorporating email, social media, chat logs, call transcripts, news feeds, and analyst reports as they create advanced analytics about their customers and business.
Additionally, the scope of where analytics are being applied is expanding exponentially. And why wouldn't it? With multiple units within financial services firms capturing an enormous amount of data on a daily basis, it only makes sense to use this content as a mechanism to glean insight into all aspects of the enterprise. Functions such as market risk, credit risk and portfolio management have always relied heavily upon analytics, but the next generation of data analysis includes calculations around customer sentiment, operational efficiency, regulatory compliance and much more.
Spotfire showcased a robust data visualization platform with a full range of analytical tools. Attivio enhances the Spotfire application by enabling access to a diverse set of structured data and unstructured content — both inside and outside of the firewall. Furthermore, Attivio's schema-less approach offers the agility required to quickly add new sources of information. This is a key benefit given the rapidly growing number of sources that firms are employing. To quote my colleague Julio Gomez:
"Building an advanced analytics capability that fails to stress agility is LOA - Legacy on Arrival."
Amen.
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Data-driven decision making in the financial services industry is undeniable. What's less certain are the specific types of analytics that firms will create, along with the underlying sources they'll use to produce the calculations. But regardless of what the future holds, Attivio is excited to partner with Spotfire as we strive to help financial services firms find new ways to leverage analytics throughout their organization.
Thanks for having us Spotfire! We'll see you at our next client engagement.
Author Bio
Randy McLaughlin is a Director of Business Development with Attivio and brings over 12 years of experience in the financial services and software industries. Prior to joining Attivio, Randy was a lead analyst at Cutter Associates, a research and consulting firm focused on asset management technology.
Learn more about Attivio & TIBCO Spotfire!TIBCO Spotfire® is the company's in-memory analytics software for next generation business intelligence. By offering a visual, interactive experience, Spotfire® helps professionals quickly discover new and actionable insights in information.
Through their partnership with Attivio, TIBCO Spotfire can now enable their customers to seamlessly incorporate all of the rich content and data from all of their internal systems, both structured and unstructured, into the Spotfire visualization and analytics tool.
Download the Attivio & TIBCO Spotfire Partner Overivew to learn more.
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