NLG answers a problem challenging analysts across the business landscape. Analysts in every industry face the growing burden of too much data coming at them too fast for a human alone to analyze it thoroughly and complete accurate reports within a time frame that allows the information to be powerfully useful. The faster complex data grows, the more heightened the threat to businesses that are unable to understand and process the meaning of their data in a timely manner.
Businesses today are feeling the additional impact of the ongoing labor shortage, with financial services being one of the knowledge-intensive sectors struggling to fill positions. As baby boomers retire, the financial sector is being hit particularly hard. Finance analysts with expertise and experience must carry the load for this shortage as well as deal with more and more complex data to analyze.
Human analysts can use AI to do more
Natural language generation (NLG), a form of artificial intelligence (AI), gives analysts superhuman abilities to analyze complete data sets in minutes, providing intelligent narratives explaining the data. Eliminating human error and speeding data comprehension frees analysts to do the human, expert work that impacts business outcomes.
How NLG works
NLG has many applications. It is used in marketing, sports reporting, patient reports, and even chatbots. However, its greatest effectiveness comes from automating time-intensive data analysis and reporting activities. Arria NLG analyzes structured data and interprets its meaning into natural, easy-to-understand narratives. Arria NLG for BI integrates with your Business Intelligence tool and provides context to your dashboard visuals with accompanying Intelligent Narratives. Gone is the need for experts to interpret your dashboard for your audience.
Analyst for life sciences
Arria NLG is used by 4 of the top 10 pharmaceutical companies, and its adoption by tech-savvy life sciences organizations is growing rapidly. A large global pharmaceutical company that has long invested in technologies to increase efficiencies and stay ahead of the competition understood that NLG was a difference-maker. When the organization’s Tableau users needed a deeper understanding of their dashboard visuals, they integrated Arria NLG and sped data comprehension. The company eliminated data siloes and reduced the need for interpreting their dashboards to leadership – NLG explained the dashboard’s meaning in simple, plain language.
After the adoption of Arria NLG, the organization enjoyed:
- Flexibility to integrate NLG into a variety of different formats
- Ability to personalize the view/narrative for a variety of stakeholders including ELT, sales leaders, and more
- Expediting the company’s goal of advancing digital innovation through technology
Analyst for Investment Analysis
NLG is transforming the investment landscape as we speak, providing a tool that can analyze vast investment portfolios, slicing and dicing data in minutes, and allowing analysts to interrogate portfolio data from various dimensions and lenses.
The investment analysis value chain has historically been time-consuming, vulnerable to human error, and difficult to get an all-encompassing understanding of the data. When one of the largest investment banks on the planet was looking to streamline investment analysis and provide asset managers with a clear, real-time understanding of portfolio performance, NLG was the answer.
After the customization of Arria NLG for the firm, the benefits delivered AI-automated:
- Portfolio performance analysis and reporting
- Wealth management client reports
- Auto-complete disclosures for GIPS® compliance
- Composite portfolio allocation and auto-completed mandatory disclosures
- Data error reporting
Analyst for luxury consumer goods
A leading luxury fashion house wanted to reduce the time financial controllers spent collecting and analyzing data on inventory, KPIs, costs, and sales results from its vast collection of consumer goods. The company does use Business Intelligence tools, but data visualization graphs can be difficult to understand. An expert was necessary to translate the graphs to leadership.
As part of a specific finance initiative, the luxury brand added Arria NLG to their Power BI dashboards to generate real-time insights from their dashboards.
After integrating NLG into Power BI, benefits include:
- Summarized data into automated reports tailored to their audience
- Easy integration into the Power BI dashboards
- Detailed and strong documentation from Arria NLG
- Customization Arria Studio for faster implementation and personalization
Analyst for the insurance industry
A multinational insurance company sought a way to decrease manual financial reporting, increase the speed of data communication, and deliver data understanding to leadership faster.
Arria’s advanced NLG capabilities provided the company’s digital finance team a method of quickly deciphering their dashboard’s meaning and speeding up data understanding and reporting.
After the customization of Arria NLG for the insurance firm, the following benefits were delivered:
- Reduction of manual tasks and redundancies in reporting
- Increased speed, scale, and accuracy in reporting
- Editable financial narratives with personalization options
Analyst for financial IT security
Digital financial crimes have surged as Banking, Financial Services, and Insurance (BFSI) have shifted to digital commerce. When a financial services company suspects a financial crime is taking place, they legally must submit the information to the US Treasury as part of the Banking Secrecy Act (BSA) through FinCEN (Finance Crimes Enforcement Network).
To stay ahead of malicious actors and protect investors, a leading fintech company turned to Arria’s NLG technology to expedite reporting of Suspicious Activity Reports (SAR).
Using Arria’s NLG automation for SARs, when a suspicious event occurs an investigator compiles data on the event, sends it to Arria, and Arria produces a comprehensive report on the event. This creates superhuman investigators by reducing report creation time by 80%. The company was doing close to 400,000 reports annually, so using Arria they save approximately 90,000 man-hours per year!
Therefore, using the Arria NLG platform, the organization:
Analyst for the oil & gas industry
A deepwater oil platform is a highly complex, integrated, industrial production facility operating 24/7/365. It operates in one of the most challenging production environments in the world. One of the world’s largest oil & gas producers faced challenges with their monitoring systems – they generated alerts and notifications but required expert engineers with decades of experience to analyze them.
There is such a vast array of equipment generating thousands of alerts, it is impossible for human experts to analyze them all. As a result, alerts were missed, and production suffered.
The Arria NLG Platform gave the organization automated expertise. It instantly, automatically, continuously, and accurately:
- Reviews every alert even in the absence of the expert
- Performs analysis that determines what the alerts mean
- Provides a report identifying which alerts need the expert’s attention
- Provides situational awareness that allows the engineer to immediately formulate an action plan
Complex data challenges every industry
Digital transformation has spread across the business landscape, leaving every vertical challenged with complex heaps of data too vast for human analysts to review and interpret. NLG is a form of Artificial Intelligence that allows human analysts to keep up with the pace of the data. The manual, time-consuming work is done by Arria NLG, leaving the analysts time to do the human work of deciding what the analysis means to the business going forward.
To learn more about how Arria NLG can give you an edge over your competition, set up a time to talk.