A growing number of businesses are implementing financial analytics into their businesses with a long term objective in mind such as predictive sales analytics, risk management analysis, cash flow analytics; but, like any developing technology, analytics comes with a fair share of challenges. Companies who were among the first to implement analytics have found difficulties such as lack of proper management and communication between divisions; deploying tools in an ill-fitting organization structure; and finding the right specialists for the job. Finance companies tend to be secretive when it comes to sharing information, often storing data in silos and avoiding platforms sensitive to hackers. But, financial analytics requires all the data to be stored on a single platform, such as cloud, to convert the raw information into structured data for assisting and analyzing the insights for informed decision making based on risk management analysis, predictive sales analytics, cash flow analytics and others.
The world’s top financial cities are closely monitoring and encouraging companies to implement AI and data analytics in financial institutions to perform predictive sales analytics, risk management analysis, cash flow analytics and others. In 2015, Singapore launched a five-year Financial Sector Technology & Innovation (FSTI) scheme, a S$225m project, to promote an eco-system for FinTech innovation. The government is partially funding the program, which will further enable the companies to leverage data analytics and artificial intelligence to gain insights for predictive sales analytics, risk management analysis, cash flow analytics and others. Also, as a part of the scheme, the financial institutions need to educate their employees and provide necessary training modules for data analytics roles.
Talk to one of our representative @ https://automo.ai/Research/the-Oracle-magazine/Financial-Analytics/callSchedule
The financial sector is due for a technological overhaul. The catch up process is resulting in a compounding effect on financial institutions in the form of increasing online thefts and frauds, difficulties in complying with tighter regulations and meeting demands for greater transparency. However, the advancements in AI and machine learning are enabling financial analytics to address some of these key issues. Financial analytics is helping CFOs and industry executives to view and analyze the hidden data with more ease and shape up business goals and strategies. Not only these, financial analytics is also improving their decision making.
About Automo: Automo’s global consulting team is exclusively positioned to identify and assess opportunities related to growth but also empowers our client to create strategies for the future which further enables them to convert goals into reality. Automo brings AI based Market intelligence to the Automotive Industry, in an easy to use dashboard format, to always keep track about the markets you care about on a daily basis. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com or reach us at (+1) 113025664665 to discuss more about our consulting services.