The importance of data and analysis to innovation in Korean finance is increasing daily rapidly. KB has successfully created an industry-leading data culture. That is, it adopted Tableau and expanded it across the organization so that the employees in all business departments of the main office can use increasingly complex data to make decisions on their own and drive business growth. As a result, it has accelerated its data journey and secured competitiveness.
Before the adoption of Tableau, all employees in business departments used to depend on the IT department to extract and analyze data and develop reports. In addition, extensive SQL training requirements slowed down analysis in the field, impacting data utilization. Furthermore, as the existing BI system was highly dependent on IT, it had limitations in quickly meeting the needs of employees in the field.
KB, which implemented the big data platform in June 2018, adopted Tableau on a small scale and expanded it in December 2018. As a result, business employees can now readily use Tableau, whereas before they would have needed to first gain professional-level skills in data analysis.
In 2018 PLAN-iT, a Korean Gold Tableau Partner took charge of the big data platform establishment at KB and made success case of implementing self-service BI in the first-tier banking industry. In the process of this project, the business employees of KB received support from PLAN-iT. They experienced developing reports that meet their need for analysis information. In other words, the bank’s analysis proficiency improved across its workforce.
After the adoption of Tableau, KB employees became able to use data as strategic assets and make data-driven decisions. Employees in business departments now use Tableau to connect to heterogeneous data marts, easily extract the data they need and derive insight through intuitive, detailed visualization functions at the speed of thought. Business employees readily share their Tableau dashboards with bosses and executives.
The lack of resources before the adoption of Tableau impeded data analysis. Now, business employees use Tableau to validate new ideas with data.
KB has expanded its use of Tableau in a top-down style under the powerful leadership of its executive team to transition into a data-driven organization. It has expanded the scope of Tableau utilization from the Data Planning Department to all departments of the main office and its local branches. In other words, distinct to KB, more employees use Tableau in all business departments. Plus, its main office and nationwide branch network share the common goal of improving business with data, while the main office shares performance analysis results with branches so that they can check them in real-time.
Lee Min-hye, head of the Data Planning Department of KB, said with emphasis, “KB is leading the data culture by adopting Tableau, the visualization-based self-service BI platform, across all our branches nationwide. Executives and managers are now able to prioritize data using Tableau when making decisions. Tableau pushes the boundary of experience in the finance industry, where data has a close connection with innovation.”
Lee Yeong-Seon, Data Planning Department, KB, said, “Tableau has further expanded our data culture across the organization, and it is helping employees to have more impact on influencing others with data. This is shown in community activities, data visualization lab researches and the wide distribution of best practice.”