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McKnight and Commerzbank: End-User Value from Business Intelligence is in the Bank
NEW YORK – July 20, 2004 - Commerzbank, one of the major European commercial banks with significant North-American operations, resolved to improve their use of information in the decision-making and operational processes. For that purpose, they looked for a partner to assist them to improve their data capture and access capabilities. McKnight Associates, Inc. helped Commerzbank's end users derive value from its business intelligence program and justify ongoing investment. McKnight directed effort into architecting a business intelligence data store to meet end user needs for reporting and analysis of performance and risk measures.
Working closely with Commerzbank personnel, McKnight Associates, Inc. defined two 3-month projects to:
- Redefine the roles for the business intelligence team to better meet end-user needs
- Integrate the data into a multi-dimensional representation
- Establish data stewardship over the data in the business intelligence environment to better define the data, document the metadata, and address data quality issues
- Provide users with common entry points into the wealth of data available
- Users can now slice, dice, rotate, drill and otherwise manipulate the data with a broad variety of customer and product attributes
- Extensively train users, not only in the technology, but also the business purpose and usefulness of this data set
The results were tremendous. The new business intelligence solution presents much of the same information as in the past, but with the capability to create new views of the data using customer attributes like credit rating, capital utilization or interest margin spread as well as product attributes. In addition, detailed measures can now be compared to each other, allowing for the visualization of the relationship between revenue components and risk. These new views of the data provided powerful insight into the operations and profitability of the bank.
In addition to these short term wins, McKnight has developed a phased implementation approach to ensure continuing end-user value enhancement, while investing in the underlying solution architecture. Werner Boensch, Executive Vice President of the New York branch at Commerzbank, states "McKnight Associates helped us leverage our previous investment into a better understanding of our business. This has opened a whole new world of analytic opportunities for our knowledge workers."
About Conversion Services International, Inc.
A Note on Forward-Looking Statements
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