Tableau: Making Data-driven Decision through Banking Analytics

Christian Chobat, CEO, TableauChristian Chobat, CEO
The banking sector is witnessing huge changes, since analytics has taken over the command of its operations. From driving revenue and cost control to risk mitigation and formulating strategies, analytics is making its presence felt with each passing day. Seattle, WA based Tableau is an eminent wielder of the area of banking analytics, where the company is assisting myriad of organizations in transforming their data into smart business analytics. Tableau’s offerings empower customers to work with huge data or in-memory, mash up data sources by visualizing data in multiple ways through building dashboards, and creating interactive data applications, which in turn enables their clients to quickly create useful reports and dash¬boards.

The company provides vast range of offerings, which help the customers to work with huge data or in-memory, mash-up data sources. Tableau software elucidates the way data is scouted and communicated. The company’s flagship product, Tableau Desktop helps in creating dashboards, while Tableau Online shares the published dashboards among colleagues, partners and customers to facilitate collaboration and data-driven decision-making over a web browser or a mobile device. “We monitor loans and manage risk across geographies with interactive bank dashboards,” says Christian Chabot. The company’s dashboard components aid loan providers manage risk, identify loan delinquencies by business segment, location and time, and create dynamic, transparent and centralized reports.

Additionally, the company’s credit tracking system allows banks to identify problem accounts, recognize opportunities and track the value of savings and investments of their customers. The company helps clients in exploring and analyzing data by slicing down customer segment and identifying the revenue and profit by business segment, marketing channel, customer location, tenure and age.

The company’s products are used by financial service institutions such as Citibank, U.S. Bank, Barclays Global, EverBank Direct, Bank of America, London Citibank, Bussan Auto Finance, UBS Investment Bank, BNP Paribas and The World bank.

Tableau has served more than 23,000 customers across myriad of industries from aerospace and defense to insurance, automotive, manufacturing, business investments, healthcare and medical, retail and distribution. The company’s products are robust enough to handle the major challenge in assorting huge data. Wells Fargo, one of their clients faced a challenge of reshaping data, which in-cluded information of 70 million customers living in more than 8,700 locations. The main motive behind collecting and collating such humongous amounts of data was to redesign its business banking portal. Since the data collected was completely cluttered and thoroughly unstructured, the company started using Tableau software for data mining, which understands users’ behavior and helps them accordingly to make data-driven decisions. The Tableau implementation enabled the company to conserve its resources in cleaning data and reshaping and restructuring data to automate reporting. Wells Fargo was able to spend more time on the important task of analyzing the data and its results, while cutting down the time spent on reshaping the unstructured data.

With Tableau, bankers can offer their customers a new level of insight stands out from the competition

After cementing a strong foothold in the current banking analytics landscape, Tableau is looking forward to infuse the advanced version of Tableau software. Tableau 9.0, the company’s new offering, aims to be intuitive, sporting a completely new look and adding more value over the existing suite of software—Tableau Desktop, Tableau Online, Tableau Reader, Tableau Public and Tableau Server. “The advanced features of Tableau 9.0 are considered as the future of business intelligence,” concludes Chabo.