Universal Life Insurance Public Company Limited: Data Governance & Power BI Reporting for the Sales Department
Overview
As part of Universal Life’s ongoing efforts for digital transformation, Electi was requested to assist with aspects of the data management lifecycle and specifically streamline the reporting process of the sales department.
This would lay the groundwork for the better adoption of advanced analytics and the subsequent enhancement of data-driven sales strategy formulation.
Problem Definition
& Scope
Electi was tasked with working closely with the sales department to refine the data dictionary of sales production to better reflect the business logic.
The work entailed the identification of relevant data sources and the end-to-end mapping of the reporting process (entities involved, data formats, frequency etc.). Potential issues with quality of underlying data were then identified and addressed. A new modular reporting process was designed leveraging the capabilities of MS Power BI: new/existing reports were standardized; new layouts were designed leading to the creation of data visualizations and interactive dashboards using Power BI for real-time monitoring by the senior management.
Further recommendations were given to:
01. Improve overall governance
02. Introduce additional data capture by the sales department for enhanced costumer experience
03. Seek specific external sources to leverage for new business lead generation
Solution Characteristics
The proposed solution:
Is modular and portable supporting easy integration with different back-ends (new or existing relational databases, data warehouse etc.)
Can be expanded to apply to other departments within the company
Is designed to remove or reduce to a minimum any manual work required that could introduce inconsistencies
Improves data quality
Automates labor-intensive tasks and alleviates bottlenecks
Incorporates interactive dashboards with several data visualizations
Is easy to use even for parametric users offering end-to-end self-service BI
Provides access to business users at multiple levels mid to senior management
Power BI Interactive Dashboards
The new reporting process leverages MS Power BI, a cloud-based reporting & analytics platform that aims to join data from many sources to create interactive, immersive dashboards and reports that provide actionable insights and drive business results.
Value Added and Impact
01. Improved resource management through process automation and streamlining
02. Data enrichment and improved data quality are the foundation of future analytics-based projects
03. Increased operational efficiency and productivity
04. Single “source of truth” for all company stakeholders improves consistency and facilitates shifting of focus between enterprise functional units
05. New tech adoption is critical for successfully achieving Critical Success Factors and strategy implementation
06. General Business intelligence growth
07. Advancement of digital transformation efforts
08. Promotion of data-driven culture within the organization
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