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Development of a Real-Time Financial Data Analytics and Visualization Platform
  1. case
  2. Development of a Real-Time Financial Data Analytics and Visualization Platform

Development of a Real-Time Financial Data Analytics and Visualization Platform

dataforest.ai
Financial services
Business services

Identified Challenges in Financial Data Management and Analysis

The client faces difficulties in querying, analyzing, and visualizing diverse financial data sets from multiple sources in real-time. Current systems lack seamless integration, scalability, and advanced analytics functionalities, leading to delays in decision-making and reduced competitive advantage.

About the Client

A mid-sized financial consulting firm with operations across multiple regions, seeking to enhance its financial data interrogation, analysis, and reporting capabilities.

Goals for Enhancing Financial Data Intelligence and Reporting

  • Build an interactive web-based application that enables querying and analyzing various bank and financial institution datasets.
  • Create custom dashboards and analytics modules for comprehensive financial insights.
  • Integrate real-time data scraping from multiple open-source and proprietary financial sources.
  • Implement AI-driven features to generate predictive insights and automate analysis.
  • Achieve targeted performance improvements, including increased data processing speed and reporting accuracy.

Core Functional Specifications for the Financial Data Platform

  • Customizable dashboards with visual analytics and reporting capabilities.
  • Real-time data scraping and ingestion from multiple sources into an optimized database.
  • Advanced algorithms enabling comparisons, rebasing, and trend analysis on financial datasets.
  • Downloadable reports (PDF) and export options for further analysis.
  • AI integration for predictive insights and automated data interpretation.

Recommended Tech Stack and Architectural Approaches

Python for data processing (e.g., Pandas)
PostgreSQL for data storage
RESTful APIs for data calls
ReactJS for frontend development
AWS cloud services for deployment and scaling

External System and Data Source Integrations

  • Open-source financial data websites for real-time scraping
  • Financial institutions' APIs for data feeds
  • Third-party AI/ML services for analytics and insights

Essential Non-Functional System Attributes

  • System scalability to handle multiple concurrent users with high load
  • Real-time data update capabilities with minimal latency
  • Data security and compliance with relevant standards
  • System reliability with 99.9% uptime
  • Performance metrics aiming for fast query response times and report generation

Projected Business Benefits of the Financial Data Analytics Platform

The implementation aims to significantly enhance data accuracy and reporting efficiency, leading to a 19% improvement in customer experience. The platform is expected to enable real-time market insights, boost decision-making speed, and maintain a competitive edge through predictive analytics, ultimately empowering the client to stay ahead in a dynamic financial landscape.

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