Modernizing Data Analytics

Future-Proofing Critical Analytics During a Major System Migration

Learn how a financial services leader future-proofed its core analytics capabilities, increased user adoption, and advanced its capabilities.

Data Analytics Modernization Success Story

Learn how a Financial Services leader successfully transitioned, modernized, and advanced their analytics capabilities during a time of significant change.

Summary

When migrating from a particular servicing system to another — such as ERP, billing and payment systems, and CRM — organizations must often rebuild their critical analytics and reporting, while struggling to integrate content from the current and former applications.

Utilizing Lightwell’s data integration methodology and business intelligence expertise, Lightwell’s client—a leader in Commercial Auto Lending—established an integrated data environment to ensure core analytics would not be impacted by system changes or migrations, increased user adoption, and advanced its overall analytics capabilities.

Business Challenge

Typically, organizations employ a variety of systems to operate their business and service customers (e.g. billing, payment processing, loan collection, etc.). These systems are often purchased from technology vendors, who, to improve performance and keep pace with new business practices, introduce significant changes to content. Similarly, organizations may, over time, replace their legacy servicing systems with newer, more flexible applications from other vendors.

In either case, the resulting change in content and data structures may break existing analyses and reports. How could the Commercial Auto Lending leader ensure its operational analytics would not be handicapped by significant changes to its operational systems?

Transformation

By implementing standardized, master data structures to support analytics, the company’s IT team insulated business users from content volatility and ensured ongoing, integrated analysis of current and legacy system content.

Results

685 Master Elements

offering an integrated, standardized perspective of dealers, credit facilities, and vehicles

ROI

98+ Million Records

reflecting historical retail and commercial credit performance across the entire repayment lifecycle

150+ Analyses

to support self-service, interactive analysis of credit and borrower KPIs

The Story

Business Challenge: Changes Are Coming... Ready?

The Commercial Auto Lender utilized a third-party system to service its dealer floor plan portfolio, which was experiencing explosive growth.  To minimize credit losses and ensure continued expansion, the company was becoming increasingly reliant upon a growing number of analyses. 

However, their vendor had forewarned the company:

A significant, compulsory change in the servicing application would be introduced within the next 12 months. The company recognized that the analyses on which it was becoming reliant would likely need to be rebuilt once the new system was introduced.

The emerging analyses were being designed to consume data directly from the servicing system. Therefore, any changes in the system’s data elements, structure names, and/or structure compositions would render their existing analytics inoperable.

Further, the company knew that once the new system was introduced, there would be no elegant method of co-analyzing historical and forthcoming content.

Analysts would need to stitch together from results multiple analyses. 

As the company’s inventory of analytics increased, so too did the amount remediation that would be required.  The company sought Lightwell’s assistance to preserve their analytics, mitigate rework, and improve their resilience to ongoing system changes.

Transformation: A Fortified Data Environment

The company sought an efficient, durable method of insulating its analysts from potential instability within its source system environment.  They chose the Lightwell Data Analytics Team to implement the solution because of their deep experience with credit data, their automated generation of critical data architecture, and their ability to quickly propose a proven data model to support best-practice credit analytics.

Utilizing a team of multi-dimensional experts in technology and finance:

Lightwell promptly proposed the master data structures that would properly support broad portfolio analysis. Lightwell then designed and deployed the architecture to collect, document, transform, and model data from the two instances of the servicing system.

To accelerate adoption of the new, master data environment:

Lightwell remediated the company’s initial analytics, converting them to a suite of modern, interactive dashboards. Lightwell supported the development of follow-on analyses with a variety of online, interactive metadata resources, training curricula, and hands-on development.

Results: Future-Proof Analytics

Delivered comfortably prior to the introduction of the new servicing system, the Lightwell solution delivered updated system content to users via their familiar, established reports and analyses. The resilience and agility of the company’s enhanced environment has been incredible.

Improved IT and Business Collaboration

The data analysis undertaken by Lightwell to integrate the system instances into the master data structure significantly improved the IT’s understanding of the system’s operation and content.

Improved adoption and usability

The rich collection of metadata, user-friendly data models, and modernized business intelligence dashboards increased user adoption and self-service analysis.

Nimble Accommodation of System Changes

Though the company’s vendor continues to introduce quarterly system updates, the impact to analytics has been mitigated.  Further, the company is now positioned to accommodate data from future portfolio acquisitions.

Advanced Business Intelligence capabilities

To properly leverage this rich collection of data, Lightwell assisted the company with the selection and configuration of its Business Intelligence toolset and developed hundreds of dashboards and reports.

Interested in sharing this Success Story? Download the PDF version today.

Lightwell's Data Analytics Consulting Services

Lightwell helps organizations improve the way they access, manage, transform, and analyze their data.

Our highly-experienced data analytics team has assisted leading enterprises across multiple industries — including financial services, insurance, healthcare, retail, and manufacturing — in achieving their goals through data analytics.

We apply end-to-end services, best practices, and proprietary tools to help our clients improve:

Data Analytics Strategy and Planning

Data Management and Data Warehouse

Business Intelligence and Advanced Analytics

Let’s Get Started

Find out how Lightwell can help you create a high-quality data environment, optimized for high-performance analytics, while gaining powerful insights for better decision-making.

Learn more about our data analytics consulting services on our website, and contact us today to discuss your needs.

  • Lightwell is committed to protecting and respecting your privacy. Please confirm that you agree with our privacy policy by checking the box below.