target audience: TECH BUYER Publication date: May 2023 - Document type: IDC Perspective - Doc Document number: # US50591123
Enterprise Intelligence in Financial Services: Accelerating Decision Velocity to Scale and Differentiate
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Abstract
This IDC Perspective examines the concept of enterprise intelligence that helps institutions make faster decisions based on location-independent data, analytics, AI/ML, and automation and that supports the institution's ability to accelerate decisions without undue risks. IDC believes that speed and accuracy of decision making is critical to enhancing the ability to overcome disruptions and leveraging the work already done to evolve the financial institution into a digital business and lead the industry to a new era of innovation and differentiation. IDC believes that enterprise intelligence, based on a data-driven culture and appropriate technologies, will continue the work done to digitally transform and help the institution scale and differentiate through innovation and service.
"Financial institutions continue to invest in digital infrastructures and technologies with a goal of scaling the digital business," says Jerry Silva, program vice president, IDC Financial Insights. "Enterprise intelligence is quickly becoming a critical capability that will support institutions by improving decision velocity while maintaining control, and help the institution achieve growth in the future market."