Tableau Software [NYSE:DATA]: Helping Banks Unleash the Power of Data

CIO VendorChristian Chabot, CEO and Co-founder
The ecosystem of banking intelligence continues to evolve at frenetic pace. Today, a large number of finance and commerce firms capitalize on analytics software to create, visualize, and understand their organizational data. Resultantly, this enables the banks to improve services, capture new opportunities, sharpen risk assessment, and drive revenue. However, it is not always easy for ordinary personnel to generate and comprehend sophisticated set of databases and spreadsheets. To help overcome this impediment, Tableau Software brings-in a revolutionary approach that empowers even non-technical employees to create, publish, and share dashboards with great ease. This is made possible by offering a family of interactive data-visualization products that consist of drag and drop buttons to enhance the speed and flexibility of data creation. “Our pragmatic solutions are result of our strong belief towards exciting innovations and urge to solve real world problems,” says Christian Chabot, CEO of Tableau Software.

The company offers three products namely Tableau Desktop, Tableau Server, and Tableau Online for the bank employees to quickly connect, visualize, and share data with a seamless experience. Tableau Desktop is an analytics solution to access big data in a single click which allows combining of disparate data sources such as spreadsheet, SQL database, Hadoop, and cloud to spot trends, identify opportunities, and make data-guided decisions. Once the decisions are taken, the solution allows organization to create tailored dashboards and spreadsheets for incorporating new calculations, forecasts, statistical summaries, regressions, and correlations. Subsequently, the dashboards are securely shared or published by utilizing Tableau Server that enables people across organization to see and understand their own data to solve problems and discover opportunities.

The company additionally steps into the cloud services arena by offering Tableau Online which is a hosted version of Tableau Server to help enterprises gain visibility on their business insights from anywhere. With no need to experience setup time and hardware costs, Tableau Online acts as a data-on-the-go solution for the organization’s colleagues, partners or customers.

Our pragmatic solutions are result of our strong belief towards exciting innovations and urge to solve real world problems

“Our further emphasis on data security has enabled us to come up with a plan where solution allows only authorized users to interact with data using a single sign-on option.”

Such client-centric solutions are result of Tableau’s strong focus on expanding creative potential of the clients. In this regard, Chabot says, “The most pow¬erful analytics’ products strive to trig¬ger hidden creativity within human brains and our solutions work in this direction.” This drive has also enabled the Tableau to gold mark its business tenacity.

The company’s success paves the way for their customers’ triumph and fulfillment of core business objectives. To highlight on such classic cases, Wells Fargo & Company—a multinational banking and financial services firm— capitalized on Tableau’s services to make data-driven decisions. The client faced hardships with data study as their customer data was being generated from 70 million customers, over 8700 locations and 36 countries. Tableau helped cut down the time spent on reshaping data and understanding the customer’s journey. “The value of Tableau is that we're able to reach a really broad audience with a lot of information that we just couldn't do otherwise without an extremely large team,” acknowledges Christine Birtel, Head of Customer Insights and Analytics, Wells Fargo.

Tableau had recently announced Vizable, a mobile app designed to help people see and understand data with an iPad. Continuing to witness similar obsession for iPad apps, the company endures to drive more investment in tablet computers. Motivated by these goals, Tableau is well poised for a significant improvement in the solution set that they deliver to their clients.