Overview of Business 360
Financial services organisations have long recognised that maintaining a complete, accurate, and current view of their distributed enterprise data can transform the way business units within the organisation collaborate, compete, serve clients, and make decisions. Becoming a data-led organisation, however, is often far more complicated than business leaders expect, and delivering the right data to support critical business needs is becoming increasingly challenging.
InterSystems® makes the shift to a digital, data-driven approach possible by enabling business leaders and their teams to take full advantage of a 360-degree view of enterprise data, delivering a wide range of benefits, including:
- improved decision support
- better compliance
- stronger risk management
- increased revenue generation
- enhanced operational resilience
- accelerated innovation
Financial services organisations are struggling to obtain a complete, accurate, and current view of the data they need to run their businesses. More data is being generated than ever before as a greater number of products, services, and business processes are delivered digitally on a global scale.
Siloed systems across multiple departments often lead to data that is inconsistent, disparate, and difficult to interpret. These issues are being compounded as organisations continue to add more applications and data sources, and as demand from users to support new use cases grows.
Many organisations have amassed overly complex data infrastructures that rely on a disjointed set of technologies for data management, semantic layers, data pipelines, data integration, and analytics, making it difficult to obtain information and insights in a timely manner and in a way that is easy to interpret and share.
All of this is making it challenging for organisations to adapt to changing market conditions, capitalise on crucial business opportunities, comply with changing industry regulations, and gain an accurate understanding of risk and decisions related to financial data.
InterSystems Business 360 provides financial services firms of all sizes with a better, faster, and easier way to unlock information from disparate data silos, drive collaboration, and provide line-of-business managers with access to better insights from across the organisation.
The solution uses a new, innovative architectural approach, the smart data fabric, which provides an overarching and non-disruptive layer that connects and accesses information from source systems on demand. The solution is ideal for complex data environments and eliminates delays which lead to errors, missed opportunities, and decisions based on stale or incomplete data.
The solution accesses and harmonises data from existing systems and silos inside and outside the organisation on demand, ensuring that the information is both current and accurate.
It incorporates real-time event and transactional data along with historical data; provides business users with self-service analytics capabilities, enabling business leaders to make “in the moment” decisions; and addresses limitations of previous approaches, such as data lakes, data warehouses, static reports, and dashboards.
InterSystems Business 360 provides line-of-business users and data stewards with access to data required for analytics and insights by focusing on data across domains and functions in an enterprise. This makes it a truly comprehensive tool for 360-degree views of multiple areas, including trading activity, customers, regions, risk, capital, and assets under management.
In contrast with static dashboards, self-service analytics capabilities enable business users to freely explore the data, ask ad hoc questions, and drill down via additional queries based on initial findings. Firms can choose to incorporate advanced analytics and machine learning into interactive dashboards and reporting screens to gain further insights.