Authors: Michael Araneta, Keith Lam

Business Strategy
February, 2011  -  Doc # FIN226836
Number of Pages: 19
Number of Figures: 12

This IDC Financial Insights report explores the use of business intelligence in the financial services industry in four Asia/Pacific markets: China, Hong Kong, Malaysia, and Singapore. Based on a survey and benchmarking exercise involving more than 100 financial services institutions in China, Hong Kong, Malaysia, and Singapore, IDC Financial Insights discovers the extent to which business intelligence (BI) is currently used among leading players in the industry. The report also highlights how exactly BI will gain yet more relevance in the future.

Michael Araneta, associate research director for IDC Financial Insights remarks, "There will be more prevalent use of BI throughout the enterprise, more sophisticated and user-ready tools, and more business involvement in the use of BI. The convergence of these trends make up what we term as Business Intelligence 2.0." Araneta continues, "BI 2.0 sees the financial institution move from a very high reliance on technology and tools toward a BI program that is more business led. BI 2.0 will not only see greater technology capabilities made available to business users but also foster greater confidence and skill by these business staff in using BI in their day-to-day functions."

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