Clover Infotech Helps Leading Private Sector Bank Gain Insights from Data with Oracle Analytics Cloud

CXOToday had engaged in an exclusive interview with Neelesh Kripalani, Chief Technology Officer, Clover Infotech

• What were the key operational challenges faced by the leading private sector bank that prompted them to seek a consolidated dashboard solution?

Oracle Analytics Cloud (OAC) is a comprehensive analytics solution that can help companies address various challenges they face in managing and analysing their data. These challenges can range from data integration and consolidation, to real-time analysis of data, scalability, accessibility, data visualization, and cost-efficiency.

In short, maintaining and managing on-premises analytics infrastructure can be costly. OAC’s cloud-based approach helps companies to reduce capital expenditures and pay for only the resources they use.

• How did Clover Infotech create a Business Analytics dashboard using Oracle Analytics Cloud? What challenges did this address?

Using Oracle Analytics Cloud, we were able to create a reporting dashboard that offers a comprehensive business performance assessment. The dashboard equipped with various sophisticated analytics tool and technologies can quickly identify the overall company health based on metrics such as Key Performance Indicators (KPI). This enabled the customer to quickly visualize and examine the data, which resulted in better decision-making.

• Could you elaborate on the process of integrating multiple data sources from different databases into a single Oracle database to support the Business Analytics dashboard?

To integrate multiple data sources from different databases onto a single Oracle database, we use the process commonly known as Extract, Transform and Load (ETL). This allows us to create a cohesive dataset that can be used for deriving meaningful business insights.

This process involves the following steps:

1. Data Source Identification – Identify all the data sources that need to be integrated into the Oracle database.
2. Data Extraction – Extract data from each of the identified data sources.
3. Data Transformation – Once extracted, the data might not be in a suitable format for direct integration. Data transformation is the process of converting and standardizing this data to fit the schema and structure of the target Oracle database.
4. Data Loading – After the data is transformed, it is loaded onto the Oracle database. This is the step, where database schema are defined, and tables are created. OAC provides various tools and utilities to facilitate data loading.

• What specific benefits did the bank experience after implementing the Business Analytics dashboard, in terms of time savings and improved decision-making?

This comprehensive business analytics dashboard enabled the bank to have an in-depth view into their different processes, and also helped it to uncover actionable insights. It allowed the bank to have a greater visibility across all their relevant data, thereby equipping them to understand the market trends well, and optimize their product and customer strategies.

The right business analytics solution can integrate all the disparate data that is held across different applications and departments and create a unified source of information, which can be accessed easily, quickly, and by anyone, considering they have the right level of permissions. This empowers the bank to better predict sales and financial performance, thereby enhancing operational efficiency at reduced costs.

• What measures were taken to ensure data security and privacy during the implementation of the Business Analytics dashboard?

When we were implementing Oracle Analytics Cloud, we ensured that the data, while in transit and at rest, is secured by encrypting it. We also restricted the access to business analytics dashboard and its underlying data by applying role-based access controls (RBAC) and user authentication mechanisms, such as multi-factor authentication (MFA), to prevent unauthorized access.

However, in addition to all of this, it is also very important to conduct regular security audits and assessments to identify vulnerabilities, and making sure that security measures are up-to-date.

• How does Clover Infotech’s expertise contribute to their ability to deliver effective data management, and automation solutions?

We have been managing mission critical databases for our customers, and hence we have developed significant expertise and experience in handling data effectively. Also, as a preferred managed services partner for our customers, we have been constantly enabling them to run their IT operations seamlessly. This has helped us to garner a comprehensive understanding of business processes across customers’ application and infrastructure landscape. Alongside, we have honed our automation capabilities across a range of tools and platforms, allowing us to guide our customers in recognizing and automating their rule-based, redundant, and repetitive processes.