Is your data ready for competition?

Please visit this page from your desktop device to take the Aristalytics survey on analytical readiness for CECL.

Minimum Required Level

60%-80%

18-24 Points

40%-60%

12-18 Points

80%-100%

24-30 Points

16%-40%

5-12 Points

Next Step

Solution

Localized Analytics (5-12 points):

If your survey score has identified your organization at the 'Localized Analytics' stage, you will want to begin transformation right away.

Below are problem scenarios with identified solutions and next steps to guide and help prepare you toward data readiness.

Organize your organization's data environment to have consistent, granular, and quality data.

Use a core provider to integrate your data into a single platform.

Aristalytics’ experts will help you identify inconsistencies in your data and advise on the next actions to take!

Aristalytics has experienced data integration specialists who will help you utilize a business intelligence platform (Qlik Sense or Tableau) in order to integrate your data.

Problem

- Data Quality:

Organizations at this stage typically have missing, duplicate values or lack of important data points.

- Data Integrity:

Organizations at this stage are typically analyzing data using spreadsheets, which is not sufficient for competition in the market. Most of the companies already utilizing integrated platforms.

Analytical Aspirations (12-18 points):

If your survey score has identified your organization at the 'Analytical Aspirations' stage, you already have some basis for the further analytical implementations. 

Below are problem scenarios with identified solutions and next steps to guide and help prepare you to start creating predictive models.

Problem

While organizations at this stage typically have some analytical capabilities, they still lack the ability to predict different types of customer behavior and to implement other sophisticated prediction models.

Solution

Build an experienced internal data analytics team or ideally work with an external data analytics provider/consultancy firm to implement predictive algorithms.

Next Step

Aristalytics provides a cloud-based, self-serve, advanced analytics platform, i.e. Arista, to perform powerful predictions for your organization and helps you identify different types of customer behavior with industry-proven algorithms.

Analytical Companies (18-24 points):

If your survey score has identified your organization at the 'Analytical Companies' stage, you have already passed the minimum recommended threshold for the competition in the market. However, to build broad analytical capability, your financial institution needs to benefit from using analytics to its full potential.

Below are problem scenarios with identified solutions and next steps to guide and help prepare you toward becoming an analytical competitor.

Next Step

Aristalytics’ experts provide prescriptive analytics solutions to automate your organization's core processes, such as ATM liquidity, customer segmentation and more.

Solution

Optimize your descriptive and predictive analytics capabilities to automate decision-making processes. Use optimizations and simulations to actualize analytical outputs.

Problem

Although descriptive and predictive analytics are typically used by organizations at this stage, they still need to differentiate their analytical capabilities to gain maximum competitive advantage.

Analytical Competitors (24-30 points):

If your survey score has identified your organization at the 'Analytical Competitors' stage, you already actualize big results by utilizing diverse enterprise-wide analytical capabilities with extensive support from your executives who are knowledgeable in analytics.

From this point forward, to keep up with the analytical competition, your organization should continuously monitor external environments for changes and pursue everlasting renewal and improvement in analytics.