Novacomp Enables Modern Data Analytics Ecosystem for Enhanced Decision-Making
In today’s rapidly evolving business landscape, the ability to access timely and valuable information has become crucial for organizations aiming to gain a competitive edge. Recognizing this need, Novacomp, a leading technology solutions provider, recently embarked on a project to design a modern data analytics ecosystem for their fintech client. This ecosystem aimed to offer near real-time, high-quality, and insightful information to key stakeholders, empowering them to make informed decisions. Novacomp’s solution focused on leveraging cutting-edge technologies, including Apache Fineract, GitLab Runner, Snowflake, and Sigma’s Visualization Tools, to address the client’s challenges effectively.
The challenges faced by Novacomp’s client were multi-faceted. Firstly, the fintech company required assistance in organizing and extracting information from Apache Fineract and application APIs, and seamlessly ingesting it into the data warehouse (DW) using GitLab Runner or Snowflake tasks. Secondly, the client aimed to improve the orchestration of the data transformation semantical layer, while adhering to SE’s best practices. This included implementing robust data documentation, lineage creation, and environment-aware deployment strategies. Lastly, the client emphasized the need for data-quality mechanisms to ensure the accuracy and currency of displayed data, while also demanding visually appealing and intuitive dashboards to facilitate efficient decision-making.
To tackle these challenges head-on, Novacomp assembled a team of highly skilled Data Analytics Engineers with expertise in SQL, Data Warehousing, Dimensional Modeling, Data Governance, and Visualization. Leveraging the power of Snowflake and DBT (Data Build Tool), the team focused on structuring key information into properly related tables and implementing Key Performance Indicators (KPIs) to effectively measure and monitor the business’s health. Additionally, the team harnessed the capabilities of Sigma’s Visualization Tools to create visually striking and insightful analyses that could readily address the most common business questions.
The benefits derived from Novacomp’s solution were significant and transformative for the client. Stakeholders were empowered with near real-time information, enabling management to take informed actions swiftly and maximize loan portfolio performance. The enhanced trust in data accuracy and timeliness fostered a data-driven organizational culture, where decisions were driven by reliable insights. Recognizing the importance of building internal capabilities, Novacomp facilitated a company-wide training program, enabling teams to develop ad-hoc analytics and enhance existing models tailored to their specific requirements. Furthermore, through the implementation of Reverse ETL (Extract, Transform, Load) techniques, the Novacomp team assisted business operations in effectively utilizing DW information to drive marketing campaigns, generate accounting journal entries, and produce partner reports.
Novacomp’s successful engagement in designing and implementing a modern data analytics ecosystem exemplifies the transformative power of technology in enabling informed decision-making. By harnessing the capabilities of Apache Fineract, GitLab Runner, Snowflake, and Sigma’s Visualization Tools, Novacomp empowered their fintech client to unlock the full potential of curated data, fostering business growth and paving the way for a data-driven future.