The digi­tal revo­lu­ti­on has fun­da­men­tal­ly chan­ged how busi­nesses ope­ra­te and make decis­i­ons. In the high­ly regu­la­ted finan­cial sec­tor, effec­ti­ve data uti­liza­ti­on is key to stay­ing com­pe­ti­ti­ve. Cre­den­do, a lea­ding Euro­pean cre­dit insurer, is a prime exam­p­le of this. Col­la­bo­ra­ting with Stat­Soft and by imple­men­ting TIBCO Sta­tis­ti­ca™, Cre­den­do has ele­va­ted its data ana­ly­sis and report­ing capa­bi­li­ties to a new level. 

Chal­lenges in a Data-Dri­ven Indus­try 

The finan­cial sec­tor is known for its com­ple­xi­ty and strin­gent regu­la­to­ry requi­re­ments. For Cre­den­do, the chall­enge was to uni­fy a frag­men­ted data sci­ence land­scape, which con­sis­ted of various com­mer­cial pro­grams and open-source solu­ti­ons. This frag­men­ta­ti­on made col­la­bo­ra­ti­on dif­fi­cult and limi­t­ed the company’s abili­ty to quick­ly respond to mar­ket chan­ges. 

The Trans­for­ma­ti­on: A Uni­fied Plat­form for Advan­ced Data Ana­ly­sis 

The choice of TIBCO Sta­tis­ti­ca™, sup­port­ed by StatSoft’s exper­ti­se, was decisi­ve. Stat­Soft pro­vi­ded not only tech­ni­cal sup­port but also trai­ning and con­sul­ta­ti­ons to ensu­re a smooth tran­si­ti­on to the new plat­form. Through this clo­se part­ner­ship, Cre­den­do was able to stream­li­ne its pro­ces­ses and crea­te a cen­tra­li­zed plat­form for its ana­ly­ti­cal needs. 

Imple­men­ta­ti­on and Initi­al Suc­ces­ses 

The suc­cessful deploy­ment of TIBCO Sta­tis­ti­ca™ at Cre­den­do mark­ed the begin­ning of a new era in data ana­ly­sis and report­ing for the com­pa­ny. The imple­men­ta­ti­on of this ambi­tious pro­ject was car­ri­ed out step by step with gre­at care to meet the spe­ci­fic needs of a lea­ding cre­dit insurer. 

Intro­duc­tion and Trai­ning 

The pro­cess began with the intro­duc­tion of the first licen­ses for TIBCO Sta­tis­ti­ca™ at the end of 2018. A cri­ti­cal fac­tor for suc­cess was know­ledge trans­fer: Stat­Soft con­duc­ted com­pre­hen­si­ve trai­ning in spring 2019 to fami­lia­ri­ze Credendo’s staff with the platform’s diver­se fea­tures. The­se initi­al steps allo­wed the team to quick­ly gain con­fi­dence in the new tool and laid the ground­work for its effec­ti­ve use. 

Pro­to­ty­pe Deve­lo­p­ment 

A cru­cial mile­stone was the deve­lo­p­ment and imple­men­ta­ti­on of two pro­to­ty­pes by Stat­Soft, tail­o­red to Credendo’s spe­ci­fic needs: risk pre­dic­tion with vary­ing data avai­la­bi­li­ty and auto­ma­ted mining of PDF docu­ments. The­se pro­to­ty­pes show­ca­sed the capa­bi­li­ties of TIBCO Sta­tis­ti­ca™ and its abili­ty to tack­le com­plex ana­ly­ti­cal chal­lenges, pro­ving the platform’s poten­ti­al to crea­te real value for the com­pa­ny. 

Auto­ma­ti­on and Effi­ci­en­cy Impro­ve­ment 

The intro­duc­tion of TIBCO Sta­tis­ti­ca™ enab­led Credendo’s data sci­ence experts to make various ana­ly­sis pro­jects more effi­ci­ent. Nota­b­ly, the auto­ma­ti­on of pre­vious­ly time-con­sum­ing report­ing pro­ces­ses signi­fi­cant­ly increased effi­ci­en­cy. This auto­ma­ti­on included data import and pro­ces­sing work­flows, inclu­ding veri­fi­ca­ti­on and aut­ho­riza­ti­on paths, lea­ding to auto­ma­ted report gene­ra­ti­on. This not only redu­ced the likeli­hood of errors but also signi­fi­cant­ly acce­le­ra­ted the enti­re ana­ly­sis pro­cess. 

Initi­al Suc­ces­ses and Posi­ti­ve Feed­back 

The platform’s initi­al suc­ces­ses were cle­ar­ly felt. Credendo’s staff deve­lo­ped quicker and more effi­ci­ent ana­ly­ses, lea­ding to impro­ved decis­i­on-making. The new auto­ma­ti­on and visua­liza­ti­on capa­bi­li­ties made sta­tis­ti­cal pro­ces­ses more acces­si­ble and allo­wed for a bet­ter ana­ly­sis and under­stan­ding of cur­rent topics, such as the impact of glo­bal events on the busi­ness. 

The imple­men­ta­ti­on of TIBCO Sta­tis­ti­ca™ at Cre­den­do and the initi­al suc­ces­ses are a com­pel­ling exam­p­le of how the right data sci­ence plat­form, sup­port­ed by a clo­se part­ner­ship with Stat­Soft, can help com­pa­nies revo­lu­tio­ni­ze their data ana­ly­sis capa­bi­li­ties and take them to the next level. 

Long-Term Per­spec­ti­ves 

The suc­cessful launch of TIBCO Sta­tis­ti­ca™ is just the begin­ning. Cre­den­do plans to fur­ther expand the use of the plat­form, ther­eby demo­cra­tiz­ing ana­ly­ti­cal capa­bi­li­ties within the com­pa­ny. The suc­ces­ses achie­ved so far pro­vi­de a solid foun­da­ti­on for future inno­va­tions, show­ing that the right tech­no­lo­gy, cou­pled with the right part­ner, can help com­pa­nies advan­ce their digi­tal trans­for­ma­ti­on. 

Con­clu­si­on 

Cre­den­do impres­si­ve­ly demons­tra­tes how cru­cial the right stra­tegy and part­ner­ship are for digi­tal trans­for­ma­ti­on. The imple­men­ta­ti­on of TIBCO Sta­tis­ti­ca™, sup­port­ed by StatSoft’s exper­ti­se, has not only increased effi­ci­en­cy but also laid the ground­work for a data-dri­ven future. 

Are you rea­dy to explo­re the pos­si­bi­li­ties of data ana­ly­sis for your com­pa­ny? Cont­act us at Stat­Soft, and let’s shape the future tog­e­ther.