Empowering the management of India’s top Non-Banking Financial Company with AI based insights

OVERVIEW

A leading NBFC organization in India, with a widespread business presence across the country and an impressive loan disbursal rate of one every 30 seconds, recognized the need to elevate their insight generation capabilities and overcome challenges in their analytics system, specifically for their CEO team. The company aimed to provide their CEO team with a comprehensive report, enabling a 360-degree view of their business. This report would encompass key metrics mapped across various zones and branches throughout the nation, offering valuable insights into their operations.

PROBLEM

The organization encountered substantial hurdles with their current analytics system, characterized by reliability and usability concerns stemming from outdated logic and hard-coded values. Additionally, the management of extensive data volumes originating from Data Marts comprising several terabytes presented a significant technical challenge from a data engineering standpoint. What initially commenced as a migration project evolved into a more intricate endeavor than initially foreseen, necessitating a comprehensive overhaul of the entire pipeline and logic to address these complexities effectively. Below is a summary of the issues that existed and required improvement.

• Handle Voluminous data that required merging historic and present data.
• Inaccurate, underutilized reports.
• Performance issues causing delays and inefficiencies.
• Unengaging and ineffective visual presentations.
• Inconsistencies in business formulas and logic.
• Missing essential and advanced AI features like drill-down reports and automated reporting.
• No mobile access to reports.
• Prolonged loading times impacting productivity.
• Dashboard displaying outdated data.

INFERENCE APPROACH

Through a collaborative approach, we closely engaged with the client team to fully comprehend the intricacies of their business operations, departments, and stakeholder expectations. By harnessing our expertise in data analytics and engineering, we were able to effectively eliminate all existing analytics issues. This resulted in the delivery of a robust and advanced solution that provides comprehensive and reliable insights tailored to meet the unique needs of their business. The following steps were taken to achieve the client’s objectives:

1. Thorough understanding of the user workflow: We went through multiple rounds of discussions with the stakeholders to understand the workflow and understand the underlying shortcomings and procedures in place.

2. Three phase development: We identified 3 areas that need major improvement.

• Data Engineering: We embarked on redefining the underlying data infrastructure to ensure its optimal performance and reliability.
• Business Logic Corrections: We helped the client to identify the gaps in the business logic and worked closely with them to test and confirm the new logic.
• Insight Generation: Leveraging advanced analytics techniques, we generated valuable insights that provided actionable information and a deeper understanding of the business dynamics.

3. Brand New Visuals: We designed user-friendly visuals that allow for easy interaction, smooth navigation, and seamless drill-down capabilities across various dimensions. These visuals present key performance indicators (KPIs) and insights in an easily understandable format, facilitating quick and informed decision-making while ensuring the accuracy of the displayed information.

4. Automation: We automated the entire pipeline, ensuring timely delivery of accurate insights to end users.

5. Testing: We conducted a rigorous one-month testing phase to validate the accuracy of the insights and ensure smooth visual interactions. Any identified issues were promptly addressed and corrected.

6. Usage Analytics : We implemented usage analytics to track the consumption of reports, providing valuable insights from the page level to user level. This allowed us to measure usability, train users, and raise awareness about the available reports.

OUTCOME

• Attained 100% accuracy in delivering insights that matched numbers from every business unit.
• Realized an 88% improvement in system performance.
• Provided a comprehensive, centralized report for accessing a wide range of insights.
• Incorporated AI-based NLP (Natural Language Processing) insights to go beyond dashboards.
• Enabled web and mobile reports for unrestricted decision-making.
• Developed a user-friendly UI (User Interface) to enhance user experience.
• Experienced a 30% usage increase within the first week of going live.
• Influenced implementation of similar analytics exercises in other departments.

The revamped CEO insights proved to be a resounding success, significantly aiding the decision-making process within the company. The CEO team was relieved from tedious decision-making efforts by going through multiple reports generated from various business units. Now, they have access to the right and updated data, enabling them to make informed decisions efficiently. This transformation not only empowered the CEO team but also streamlined and optimized the underlying technology, further enhancing overall operational efficiency. The company experienced improved decision-making capabilities and a more agile approach to handling critical information.