BUS7B30 Financial Insights and Business Intelligence Assignment
1. Introduction
Business intelligence solution is critically developed to provide in-depth financial analysis through collecting, processing, and analyzing financial data in real-time. The aim of this study is to examine financial insights and business intelligence, especially focusing on the leading supermarket group, Asda Stores Ltd.
Key performance indicators (KPIs) are developed to analyse data and monitor performance with effective decision-making. In this big data age, several techniques are adopted to gain financial insights and business intelligence. Effective planning, investment, and ratio analysis assist in gaining financial data for business intelligence solutions. The study sheds its light on FinTech solutions for financing, investing decisions, and operating decisions to improve financial performance.
2. FinTech solutions for financing
The advancement of science and technology and the increasing number of organizations foster a clear understanding of finance activities. Asda Stores Ltd operates its performance over the years by satisfying a wide range of customers through delivering high-quality products (Asda.com, 2022). The organization has reached the peak of economic performance in the last few years for increasing number of customers and brand performance. In this recent era, this organization is facing severe economic downfall due to the sudden outbreak of pandemics and Brexit aftermath.
According to the view of Cojoianu et al. (2021), this challenging global market makes the business performance more difficult and complex which results in severe economic loss. In this recent scenario, FinTech solutions for financing provide a significant idea to improve business performance and organizational financial condition.
Peer-to-Peer (P2P) lending, transaction delivery, alternative insurance underwriting, and digital banking are four key solutions for financing. These solutions can effectively assist Asda Stores Ltd to improve its economic downfall and enable this organization to take a dominant place in this global market. As opined by Leong and Sung (2018), this ‘Peer-to-Peer (P2P) lending is a significant practice to lend capital from different individuals through the digital medium.
It offers several benefits to both the borrowers and investors by facilitating people to borrow funds at a minimum interest rate. The organization can take a convenient medium of lending for different borrowers in search of funds and effectively matches borrowers with a network of investors (Cojoianu et al. 2021). This technique is beneficial to lending money with minimum interest in a difficult time to foster innovation and change to improve organizational performance.
Transaction delivery is another significant step that does not allow investors to purchase and buy within a single day and it demands a long duration which ranges from two days to more time. As stated by Ali et al. (2021), in this age of advanced technology, the IoT and tech companies are working together for collecting more data for several organizational performances through subsequent expansions. Financial data assists these fintech companies to identify valuable insights about customer demand and expectations.
Expenses management apps further help in gathering useful data from customers’ potential to improve financial performances. As opined by Fenwick et al. (2018), digital banking is another process due to this digital presence and organizations are able to take different monetary benefits. Alternative insurance underwriting further enables organizations to take better and cheaper coverage by establishing multiple business possibilities.
Digital insurance is particularly based on digital infrastructure for quicker business processes and improving organizational financial performances. As influenced by Echchabi et al. (2021), a complete digital presence can foster these fintech solutions and organizations are able to adopt these critical techniques to improve business conditions. Digital wallets are established to serve the payment methods convenience to its customers through a small fee.
In this technical era, these online transaction methods are significant and beneficial to both the customers and organizations. Alternative credit scoring is another key solution that provides a significant advantage to improve financial scale and transaction methods. In the words of Leong and Sung (2018), this renowned supermarket organization can adopt these solutions with advanced tools and techniques to satisfy customers and improve the payment process. Therefore, fintech organizations are using technology to integrate diverse payment methods through different payment gateways and user-friendly apps.
These multiple finance options are significant to enhance organizational financial performances and make the customer satisfied. As stated by Fenwick et al. (2018), challenging traditional methods of funding is critical through different innovative methods through this combination of finance and technology. Premium calculations become a norm in traditional insurance undertaking to exercise different patterns and customs.
The launch of highly-customized offerings is significant to improve business performances by gathering different customer data through deep-learning and machine-learning algorithms. Social signals are critically used as a parameter for flexible credit scoring that led to better lending decisions in several organizations over time (Alt et al. 2018). Credit scoring, transaction delivery, digital wallets, digital insurance, and alternative insurance underwriting are several solutions to improve financial performances and operations.
3. FinTech solutions for investing decisions
Fintech solutions for investing decisions are significant to improve the organizational investment process and technique to improve overall financial condition. “Outsourcing fintech services, partnering with other organizations, developing internal fintech and providing venture capital” are the critical ways for investing decisions (Lee and Shin, 2018).
Asda Stores Ltd can adopt several ways for investing to recover its economic downfall at different critical times through potential solutions. Emerging trends in financial technology are critical to providing a particular solution in this concern through mutual funds and other ways. Partnerships and mutual funds are key princesses to improve the investment process within a limited time frame and assist organizations to increase revenue.
In the words of Mention (2019), this partnership process is critical to provide a significant chance to different organizations to satisfy their customers with a combined price range. This supermarket company can establish its partnership process with different IoT and fintech companies.
Investing decisions are a significant process that enables organizations to think about the future with recovering recent economic downfall through effective decision-making. In this case, partnerships with different organizations, especially with other fintech organizations are significant.
As influenced by Zarrouk et al. (2021), the development of internal fintech is another way that fosters analyzing data through understanding different customer problems and demands. The meeting of finance and technology is a changing way of organizational financial management through understanding financial records and business data. Organizations can adopt Robo-advisory services through online platforms, reducing the need for direct interactions between different financial advisers.
This process is critically incorporated into the investment landscape by drawing several regulatory authorities by a level of scrutiny and code of conduct (Todd and Seay, 2020). This technique is critical for Asda Stores Ltd and its investment method through the adaptation of technology and proper calculation process.
Algorithmic trading is another instrument that computerized purchasing and selling different financial instruments through pre-specified guidelines and rules. It further assists different organizations to take effective decision-making on the basis of changing volumes, prices, and market volatility. “High-frequency trading” (HFT) suggests another value that delivers effective solutions of these investment techniques to improve revenue. As opined by Alt et al. (2018), risk analysis, ‘Robo-advisory services’, and ‘text analytics’ are other significant ways to understand investment decisions.
Effective decision-making plays a key role in facilitating business performance and making the organization successful in this challenging market. Computer programs are involved by this text analytics process for structuring written reports, programs, and organizational data (Mărăcine et al. 2020). The use of big data, machine learning, and artificial intelligence assist in evaluating investment opportunities.
Fintech solutions are significant in providing technologically advanced ways to the investment process of this organization to take fundamental and fruitful solutions. According to the view of Moccia et al. (2021), partnerships and mutual funds are critical ways that effectively foster different solutions to investment challenges and issues. Besides, robot-advisory techniques are critical to improving business conditions and organizations are able to take effective solutions about different business processes and operations.
It further provides a lenient and flexible process through different start-up programs and creates strong relationships with other fintech organizations (Todd and Seay, 2020). Therefore, it is imperative to note these fintech solutions are significant and crucial to improve business performances through investment methods in this challenging global market.
4. FinTech solutions for operating decisions
Fintech solutions are significant for organizational operating decisions through advanced banking operations and methods. In the words of Sajtos and Tőrös (2018), it further allows different organizations to improve financial scale and organizational revenue through calculating financial data and analysis. In this challenging market, financial operations become more complex and difficult and ways for fintech solutions are a significant step to earn more revenue and reach organizational objectives.
The advancement of science and technology and improved financial knowledge assist organizations to foster different financial operations. Digital transformations and Fintech assist in improving organizational efficiency through different visible shifts at different critical times. As influenced by Alt et al. (2018), financial challenge is one of the most significant challenges that devastatingly jeopardizes different organizational performance with reducing its customers. Digital transformation is one of the most potential fintech solutions for organizational operating decisions in this challenging time.
Digital transformation and digital payment methods are significant steps to create operational efficiency by establishing new payment methods to influence different customers. This digital transformation process provides several advantages, for instance, enhancing data collection, data-driven customer insight, stronger resource management, and so on.
In this challenging market, digital marketing is an effective technique to increase customers through understanding their needs and demands. This fintech solution suggests adopting digital payment methods and digital transformation to connect a wide range of customers across the world. Digital culture is further encouraged for increasing profit, productivity, and agility by boosting better customer experience (Sajtos and Tőrös, 2018). In enhancing organizational operations, this leading supermarket company, Asda Stores Ltd can adopt digital transactions and payment methods in its business process.
This process provides different other advantages and organizations can utilize “Artificial Intelligence”, “Cloud Computing ”, “Machine Learning”, “Regulatory Technology” and “Robotic Process Automation”. These techniques provide significantly advanced finance knowledge for data analyzing and big data solutions. Advance banking operations are fostered by this process through aiding human decisions and dealing with different intractable problems.
As opined by Van Duong (2019), the fintech solution process is significant in that it provides different innovative solutions to several problems and organizations are able to improve their performances. Digital transformation, advanced payment options with digital payment are fostered by this to increase customer satisfaction and reach a wide range of customers (Todd and Seay, 2020). Oni-channelling marketing methods through proper investment and financial performances are critical that provide different other innovative solutions to deal with current problems.
In this recent era, organizations are facing several challenges and economic downfall due to the lack of financial knowledge and other external problems, like Brexit aftermath and pandemic. Therefore, in improving operational efficiency, organizations are adopting several techniques and solutions to improve economic downfall. According to the view of Moccia et al. (2021), digital transformation becomes a common practice through recording customer data, organizational information.
The combination of finance and technology critically assists this leading organization, Asda Stores Ltd to improve economic downfall through engaging different customers and increasing revenue. It further assists organizations to create brand awareness and advanced investment methods foster organizational innovation and change. Therefore, it can be stated that digital transformation, digital payment methods, and big data calculations are significant solutions for enhancing organizational efficiency and performance.
5. Conclusion
Based on the above discussion it can be concluded that fintech solutions are significant for improving organizational finance, investment method, and operational efficiency. The study has critically discussed several fintech solutions for finance, such as “peer-to-Peer (P2P) lending, transaction delivery, alternative insurance underwriting, and digital banking”. Investment method is critical that is fostered by an effective decision-making process and organizations are able to think about future organizational performances.
Partnership and mutual funds are critical methods for investment and the leading supermarket company, Asda Stores Ltd can improve its economic performance through this. Risk analysis, ‘Robo-advisory services’, and ‘text analytics’ are significant other steps for organizations to enhance their investment process. The study has further discussed ‘digital marketing’ as a fintech solution for operations and improving business economic performances. The advancement of science and technology with advanced financial knowledge is critical to enhancing business performance through financial data analysis with developing big data.
References
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