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Cost Optimization Using Modern BI Tool

Case Study

About the client

This insurance company harnesses technology across crucial aspects of its operations. These encompass actuarial analysis, optimized underwriting procedures, data analytics, and the enhancement of customer service. Furthermore, the company places a considerable emphasis on cybersecurity measures and digital innovation to bolster the quality of the customer experience while concurrently ensuring adherence to regulatory mandates.

Industry

Insurance & Financial Services

Revenue (USD)

Million

Head Count

Employees

Countries Of Operation

USA

Use case Overview

  • This use case focuses on optimizing a Business Intelligence (BI) system for costeffectiveness, efficiency, and reliability.
  • The goal is to evaluate system performance, identify high resource consumption, and establish best practices.
  • It also involves eliminating redundant pipelines to enhance efficiency and resolve workflow inconsistencies.

Challenges

  • The client's current BI system faces challenges related to storage management due to continuous data influx and excessive credits consumption.
  • Complex ETL pipelines demand substantial computational resources where striking the right balance between data processing and efficient credit utilization is essential for cost-effective operations to maintain a sustainable BI environment.
  • The client must employ strategies for storage and pipeline efficiency to effectively address these issues and maximize value.

Solution

Overcoming Credit and Storage optimization

Diacto effectively assisted the client in overcoming credit and storage optimization challenges within their BI architecture through a comprehensive strategy that harnessed governance and best practices.

Real-time insights into Credit Consumption and Storage Usage,

The introduction of a cutting-edge tracking dashboard provided real-time insights into credit consumption and storage usage, enabling transparent resource monitoring, while operational best practices reduced data duplication and automated alerts ensured informed resource scaling.

Responsible Resource Management and Substantial Cost Savings

Collaborative efforts empowered the client's data analysts and data scientists, fostering responsible resource management and substantial cost savings, and enhancing the client's data-driven decision-making capabilities within their BI operations.

Impact

This solution impacts a wide range of users, including
business executives and decision makers responsible for
strategic choices and evaluating resource efficiency, BI
managers and analysts seeking enhanced workflow
efficiency, data scientists interested in improved data
quality, IT professionals focusing on
technical implementation details, financial officers looking
for cost savings, training and development teams involved
in educating users, the user community benefiting from
improved workflow and training, and stakeholders
concentrating on resource efficiency and sustainability
initiatives. These users either directly participate in BI
operations, play essential roles in decision-making
processes, or experience direct benefits from the efficiency
enhancements and resource optimization initiatives