THE ROLE OF DATA ANALYTICS IN PERFORMANCE MANAGEMENT: A STUDY OF SBI'S BUSINESS INTELLIGENCE

Abstract

It is also a strategic need in the banking industry that the introduction of performance management based on data analytics is required in the modern world. This discussion is a research on the significance of applying data analytics in enhancing performance management practice of the state bank of India (SBI), or rather the Business Intelligence (BI) implementation. The research looks at the effects of BI-developed insights on decision makers, efficiency of the operations, and employee and overall organizational performance. The mixed-method method was used to collect primary data using structured questionnaires of the SBI branch managers and executives, operational staff, and secondary data used internal reports and industry-related publications to collect the data. The findings show that data analytics is a notable factor in making the performance measurement more accurate, real-time measurements of leading performance indicators and proactive intervention of management. Also, the research captures the challenges that may swiftly arise during implementation of BI like issues regarding data quality, lack of skills and resistance to change and suggests strategic recommendations to their challenges. The paper emphasizes the extreme necessity to introduce the culture of data into the banking operation and provide some concise tips that should be considered to enhance the effectiveness of the systems of performance management in large financial organizations.