Our client, a Pan-African bank, were heavily investing into analytics technologies but were not seeing the impacts of any data in their reporting and processes. To help them get more from their investment, our Elixirr Digital team built a capability assessment model to identify the gaps in the business’ analytics capabilities. Based on this, we defined the steps required to advance that capability to a state that met the organization’s needs. The result would help the bank realize the full potential of their investment and create more customer-centric products and platforms.
- Outcome 1: Defined a 10-point, data maturity assessment framework
- Outcome 2: Defined 14 maturity uplift initiatives that, once executed, would bring the client’s maturity level far beyond that of the industry average
The challenge
Our client, a Pan-African retail and corporate bank, were investing more into analytics technologies to gain a better understanding of their customers and performance. An internal analysis revealed that the bank’s existing analytics products were severely underused for the level of functionality that was available. This was coupled with recognition that the bank didn’t have the required capabilities to maximize the use of such tools, and equally weren’t receiving enough value for their investment into these analytics.
To see the full potential of these solutions, our Elixirr Digital team needed to help our client gain a better understanding of the gaps in skills and knowledge in the organization that were preventing more widespread and valuable use of these tools. This would include reviewing, benchmarking and developing their analytics capability to drive internal efficiencies and remain competitive.
The approach
To better understand the current performance of the analytics capability in the organization, our Elixirr Digital team defined a capability assessment model. This was based both on what our client needed from their analytics function, and the level of analytics maturity being displayed by their competition.
We then interviewed stakeholders across the business, from those who owned the analytics platforms to those who used them, or could benefit from them, on a daily basis. We also performed a hands-on assessment of the analytics properties themselves – the reports and metrics being used within them and the manner in which those were set up.
Based on the outcomes of this assessment, we then plotted the steps that our client would need to take to bring their analytics capability up to a level where it was worth the investment they were putting into the technology. These steps would also help the bank close the gap between their analytics capability and capabilities displayed by their competitors.
The value delivered
As a result of Elixirr Digital’s support, we were able to define a capability ‘uplift’ roadmap. This would help drive our client’s performance far beyond the market average, benefitting their growth and revenue, as well as their customer experience and satisfaction. This could be achieved in a matter of months through a combination of quick win reporting improvements, training and framework updates, more impactful data strategy definitions, advanced reporting execution and data architecture enhancements. The bank will be able to use the results to create a data-driven platform and experience for their customers and clients, helping them remain competitive and ahead of the market.