Data Analytics platform - Automating the banks reporting process
Bank al Etihad, a reputable financial institution in Jordan, undertook a significant transformation by implementing Alteryx, a robust data analytics platform. Their primary objective was to streamline and automate their reporting and data preparation processes, which had been burdened by various challenges.
The bank faced difficulties in data extraction from diverse sources, time-consuming data cleansing and preparation, and heavy reliance on manual labor. These challenges affected their ability to fulfill ad hoc requests promptly, as a substantial amount of time was devoted to data processing and preparation, mostly using Excel.
To address these issues, the bank initiated a comprehensive solution that involved training their team to efficiently build workflows. The focus then shifted to creating reports that aggregated data from various sources, including Excel, Oracle, and SQL server.
Alteryx played a pivotal role in data preparation, directly feeding the Business Intelligence (BI) tool. The decision was made to direct all reports to Alteryx, where complex data joins and advanced calculations were executed, and the output files were sent to the appropriate databases. Finally, they created tables to connect to Power BI for visualization.
Over 40 processes were successfully automated, leading to improvements in performance and time-to-market. Alteryx empowered the bank to uncover hidden insights within their data, enhancing the speed and accuracy of decision-making.
The project also resulted in the creation of a comprehensive knowledge base, which served as a valuable resource for reference and training. Perhaps one of the most significant advantages was the valuable lessons learned. The bank is now equipped to plan more accurately, set realistic deadlines, and provide better support to their organization using Alteryx, a testament to the transformative power of modern data analytics tools.