Banking, financial services, and insurance (BFSI) organizations hold assets whose value is not typically re-acted in the balance sheet. One such asset is data. Converting the latent value of data assets into commercial value will help BFSI rms drive growth and unlock exponential value. However, achieving this goal requires organizations to become insights-driven to be able to harness data by design – deriving actionable insights from data is one of the foundational pillars of the operating strategy. These insights will help create a strong brand through competitive differentiation and deliver internal operational efciencies, data monetisation, and enhanced customer experience. This paper discusses the challenges in transitioning to insights-driven organizations and details the capabilities that rms will need to acquire.
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