Avatrade
Customer Company Size
Large Corporate
Region
- Europe
Country
- Ireland
Product
- Sisense
Tech Stack
- Sisense
Implementation Scale
- Departmental Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
- Customer Satisfaction
- Digital Expertise
Technology Category
- Application Infrastructure & Middleware - Data Visualization
- Analytics & Modeling - Big Data Analytics
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Services
- System Integration
- Software Design & Engineering Services
About The Customer
AvaTrade is an innovative online trading company headquartered in Dublin, Ireland. The company was founded in 2006 by financial professionals and experts in web commerce with the goal of perfecting the online experience for retail traders. The company has tens of thousands of registered customers in over 120 countries around the world, and executes more than two million trades per month. AvaTrade provides everyone from experienced traders to novices with an adaptable trading platform and trading services around the world.
The Challenge
With its multiple systems, Avatrade has been generating and gathering large amounts of data for years. Former CTO with a strong technical background, Mr. Lee Levenson, currently VP Operations of AvaTrade, took it upon himself to search out a better Business Intelligence solution for his company. “Our goal was to give a single view from different angles to different people that previously had taken three or four windows from different systems, with business analysts having to export reports into CSV or Excel to generate beforehand. We wanted to replace the need to manually mash all the data together,” explained Levenson. This huge quantity of data, spread over multiple platforms, meant that getting any report done was laborious. “R&D was writing queries, and making very simple reports for whoever needed them before. As is typical in any developed solution, when a report had to be changed or a new report had to be done, it went back to the R&D queue. These requests had to be prioritized. At times this was a huge bottleneck for us,” said Levenson. It was very important to the company to find a tool that would be cost effective, and quick and relatively easy to deploy. A key factor in choosing a BI software was that it be almost exclusively driven by the business user: meaning that anyone in the organization could create their own reports or drill down in dashboards without having to keep running to R&D for every question. “What we wanted from a tool,” summarized Levenson, “was the wow factor. We wanted people to look at it and say wow, where has this been all my life?”
The Solution
To really understand the viability of Sisense as the tool for AvaTrade, a POC was required. A small internal team created a set of demo dashboards that relied upon information from two of the company’s current disconnected applications. “I was checking to see, am I writing script, or am I using the tool out of the box? Did I have to go to a programmer to help me out? How much do I have to go to IT or R&D to do anything? We were also measuring how much time it was taking to create each dashboard. We had connected two sets of data to see how Sisense would work with all our different sources,” explained Levenson. “Other tools were dropped right away because they need you to already have a single database underneath. Others were also thrown out due to the prohibitive cost structure, which required 12 or more months for a ROI realization that would justify our investment.” AvaTrade was able to promote quick adoption throughout the organization and achieve some amazing results: • Standard set of dashboards • Even better customer retention because the company has a better view of what is happening with clients and call them to help faster, adding to a better customer experience • Rendering data from multiple sources has brought up data anomalies, allowing for proper care on a timely basis • Sisense is saving significant time per day for each report “Any mismatched or disparate data is bubbling up and allowing for appropriate actions to be carried out, which has been an added value from the use of Sisense, aiding in the adoption process of the solution,” stated Levenson.
Operational Impact
Quantitative Benefit
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