Self-service Business Intelligence Tools For Evaluating Cryptocurrency Liquidity

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Self-service Business Intelligence Tools For Evaluating Cryptocurrency Liquidity

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Received: 20 January 2023 / Revised: 16 February 2023 / Accepted: 20 February 2023 / Published: 23 February 2023

The purpose of this study is to examine the effects of business intelligence on bank efficiency and profitability perceptions. The study is based on 259 responses from 27 commercial bank branches, using a convenience sampling technique. This research uses the least squares-structural equation method (PLS-SEM) to test the hypotheses. The study confirms the construct validity and construct validity of the measurement model, and assesses the validity of the structural model. Studies find that business intelligence is positively associated with efficiency and profitability. In fact, research shows that business intelligence performance positively affects bank profitability. Based on competitive theory, this research states that business intelligence allows a productive organization to generate higher margins compared to its competitors in the market. Thus, banks can offer better options at a lower cost than their competitors and thus ensure a competitive advantage. Moreover, based on the resource-based view theory, the study implies that business intelligence as a strategic tool can provide a basis for developing banking capabilities that can lead to superior performance over time. Therefore, the study implies the application of business intelligence in banking companies and helps in effective decision-making in the banking management organization, academics, and policy makers.

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Banking and finance industries are undergoing changes due to technological advances [1, 2, 3]. Financial institutions are now faced with increased competition, evolving customer needs, and the need for stricter regulation and risk management in a highly dynamic market. At the same time, technology has enabled the development of business intelligence tools [4]. There are technologies that the banking and financial industry can use to exploit customer data to obtain information that can lead to intelligent management actions and business decisions [5, 6, 7]. To date, there are many ways for banking and finance organizations to use Business Intelligence (BI) technology to increase profitability, reduce risk, and gain a competitive edge. Business Intelligence allows banks to respond to changing economic conditions in both normal and turbulent economic conditions [8].

Globally, business intelligence (BI) methods and technology are helping banks better understand their operations, their customers, and their prospects. In addition, BI can open up a workflow by highlighting areas ripe for cost-cutting initiatives, new business opportunities, and more. Banking business intelligence helps users integrate multiple and disparate sets of systems to present dynamic data visualization dashboards that cannot communicate across platforms without banking business intelligence [9, 10]. Establishing that banking information is a huge responsibility that requires many employees to spend several weeks each month to complete. That’s the current state of play for most banks trying to apply business intelligence to banking. Consider installing a software layer on top of all those disparate bank data storage services that integrates them all and provides a “live” report of all the data at once. Although it may sound like the simplest solution, a lot of work needs to be done to measure the basic data before it can be used properly [6, 11].

Banks cannot simply add employees to increase profits [1, 12, 13, 14]. They should always look for ways to improve the efficiency of their current workforce. Banks can use business intelligence tools to review operations to help reduce ongoing costs and/or increase existing resources and capabilities. Banks can identify ways to improve and enhance the customer experience at the contact point by evaluating the performance of branch employees who interact with the customer base. Banks use business intelligence technology to monitor customers, productivity, and branch revenue [4, 15, 16]. Banks increase profitability and improve profitability through effective pricing strategies and business efficiencies. In addition, business intelligence technologies are used for predictive analytics to determine which customers may be interested in receiving which goods, when, and how (in person, on the web, or by direct mail) [5]. Banks can use this increased data to develop new and improved products and services that better fulfill customer needs and increase their competitiveness in the market. Armed with profit and demographic data on their customers’ households, banks will have a better idea of ​​what a good prospect looks like and will be able to promote to them more effectively. Sales and marketing efforts can be more successful if banks know which customers they are targeting [3, 17]. In addition, business intelligence systems can be used to analyze developments outside the bank in order to develop alternative investment strategies. Investors can gain some insight into sentiment and build trade signals by analyzing data on social media [18]. Through the use of analytics and business intelligence technologies, entirely new types of investments are developing. Financial institutions must be lean and efficient in today’s highly competitive business. By analyzing operational processes with business intelligence tools, banks can reduce ongoing costs and increase available resources and information [19]. Organizations can identify ways to improve and enhance the customer experience at the contact point by evaluating the performance of customer-facing employees such as sales representatives, salespeople, and account managers.

A limited amount of business intelligence (BI) studies have been found in Bangladesh [12, 20, 21, 22, 23, 24]. Tumpa, Saifuzzaman [20] studied BI covering the mental health care sector of Bangladesh; Arefin, Hoque [21] studied organizational culture and BI; Al-Hasan, Aktar [22] presented a BI model for textile industries; Babu [12] described the challenges of artificial intelligence in Bangladesh; Nahar, Naheen [23] studied artificial intelligence and fire testing; and Biswas, Rahman [24] described the roles of emotional intelligence. However, there is a gap regarding the integration of business intelligence and efficiency and profitability perspectives of banks in Bangladesh.

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Furthermore, only a few studies on business intelligence have been found internationally [17, 18, 25, 26, 27, 28, 29, 30]. Lim, Chen [18] studied the analysis of business psychology and performance but did not combine profits; Ranjan [25] showed the connection between BI and strategic decision making; Elbashir, Collier [17] found links between BI and bank performance; Shay and Ranjan [26] studied BI and supply chain analysis; Nofal and Yusof [27] investigated BI and enterprise resource planning; Işık, Jones [28] found BI links with environmental decision and efficiency; Olszak [29] studied the use of BI by collecting qualitative data; Yiu, Yeung [31] combines BI with profit; and Lawrence [30] found to be associated with BI and better performance in hospitals. Thus, there is a gap in the association of BI with bank efficiency and profitability in the international business intelligence literature.

The study found a lack of business intelligence studies in banking companies nationally (Bangladesh) and internationally. Furthermore, Tumpa, Saifuzzaman [20], Al-Hasan, Aktar [22], Biswas, Rahman [24], Lim, Chen [18], Elbashir, Collier [17], Olszak [29], and Lawrence [30] suggest further reading as BI impacts businesses. In Bangladesh, banking companies will use BI to get a strong business framework. Thus, the research developed a research model (see Figure 1) that links business intelligence with the efficiency and profitability of banks. Specifically, the study seeks answers to the following questions: “What is the impact of business intelligence on the efficiency of banks?” and “What is the impact of business intelligence on the profitability of banks?” Therefore, the study aims to examine the effects of business intelligence on the efficiency and profitability of banks. Figure 1 shows the conceptual model of the research.

The study uses 259 responses from general manager, senior officers, general officers, and employees of 27 commercial bank branches in Bangladesh, using convenience sampling technique. This research uses the

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