Reliance Nippon Life Asset Management empowers its data with Visual Analytics capabilities
Getting your data to talk beyond numbers and reports to insights that actually matter
Mutual funds are probably the most favored investment instruments for investors. Here, the prime concern for an investor is to understand the relation between a fund performance and various characteristics such as asset size, turnover and fee structure. With the highest distribution network in the country, Reliance Nippon Life Asset Management strives each day to provide simplified investment solutions to investors that result in valuable returns. Set up as a Trust by Reliance Capital Limited, Reliance Nippon Life Asset Management has served various categories of investors for the past 22 years such as retailers, financial institutions, banks, trusts, corporate and government entities.
With the aid of visual analytics solutions from SAS, Reliance Nippon Life Asset Management has chosen to enhance decision making process and widen the acceptance of advanced analytical modeling organization-wide. Greater visibility and transparency across the distribution channels has enabled interactive reporting techniques within the system. Users can now explore data and execute analytic correlations on massive data on the go, within a much shorter time span.
Considerable amount of savings in the form of man power, costs and time has resulted in accurate and timely processing, standardization, reporting and analysis of information. Establishing a long term strategy, Reliance Nippon Life Asset Management further plans to move on to the visual statistics side over the next couple of years. Salil Kumar Head - Business Intelligence, Analytics & CRM
High speed, intelligent and automated data reporting and analysis
The elaborate process of generating insightful data has now been replaced with interactive visual analytics tools from SAS. These automatically highlight key relationships, outliers, clusters, trends and more, guiding users to critical insights that generate smart reports and inspire intelligent decisions. Users now have reliable data at their disposal and use the same to assert their point of view as well as solicit additional business.
Dramatic decrease in time required to process and analyze data
Most of the reporting involved manual intervention. The right information could not reach the right people in the right time. Further, any change in critical information failed to get updated in real time. With SAS in the picture, the overall turnaround time has improved greatly. Reports and analysis that previously required days for development, are now prepared within just a few hours.
Consistent, accurate, verifiable and up-to-date record of data
Data can now be taken data from multiple, disparate operational systems and then formatted, cleansed, transformed and stored in a central data warehouse, thus allowing standardization while updating or upgrading new information related to an existing or new mutual fund account.
Low cost and scalable deployment options
SAS Visual Analytics provides a range of functionality from data exploration and reporting to data preparation and administration. The platform can be scaled upwards and outwards to address greater number of queries; can talk to all existing data sources as well as integrate several applications. Concurrent access to data that is loaded into memory with analytic computations, has enabled work on a multitude of data coming from different sources within a much shorter time frame.
Holistic information of the customers in a single data set for better decision making
Reliance Nippon Life Asset Management consultants can now view a complete picture of an entire customer relationship by consolidating all data, regardless of source, in one place. The customer knowledge and interaction have improved considerably thereby enabling faster, sophisticated decisions that improve ROI. This 360 degree view of customers enables users to perform a whole lot of descriptive analytics, pattern identification, forecasting etc. for better understanding of their customers.
The power to know on the go
Mobile capabilities give executives and front-line employees access to dashboards and reports that they can access with ease via tablets and smartphones – anytime, anywhere. Mobile tethering lets them explore reports even when there's no connectivity, answers are thus always in reach.
Users at Reliance Nippon Life Asset Management can now compile existing operational data with quality-assured data. With timely, credible and verifiable information on various accounts, the goal of creating a single, trusted source of truth for reporting, analysis, governance and compliance issues; has now been achieved.
- Anytime, anywhere access to data, ad hoc analyses and one-off reports
- Scalability of hardware and applications
- Sustainable and credible solutions that help in valuable data generation and business insights
- High speed, intelligent and automated data reporting and analysis
- Dramatic decrease in time required to process and analyze data
- Low cost and scalable deployment options
- Consistent, accurate, verifiable and up-to-date record of data
- Holistic information of the customers in a single data set for better decision making
- The power to know on the go
- Credible information