He added: "The two tools are working together and are not competing. If you are looking for fixed reporting and mass reporting you can use BusinessObjects. But if you want to go deeper and drill down, and have more information on data Spotfire adds value."
He said that the ability to access its data more easily has freed up its analyst staff and reduced the burden on IT.
"If you want to analyse figures and understand what has happened, it is directly on the end of the business analysts, it is not on the IT end. With this type of tool people are not writing a specification to IT to deliver new reporting, they directly use the platform and make the analysis themselves. So it saves time."
Separately, BNP Paribas Securities Services announced yesterday that it has also rolled out product lifecycle management and collaborative technologies from Dassault Systems.
The 3DExperience platform is aimed at enhancing productivity, and allowing the employees to share information digitally across its departments including and asset fund, clearing and financial services divisions.
This will further lower the time to bring products to market, with the bank anticipating a 20 percent reduction.
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