CommBank mobilises financial data for businesses

Businesses can glimpse financials and market data on the go with a new iPad app released today by Commonwealth Bank.

The mobile analytics app, Daily IQ, includes data on cash flow; sales information including sales turnover, volume, location, transaction size and time; and customer demographics including age, gender, location and average spend.

The CommBank app also includes a media centre with market updates, industry reports and commentary on economic data and analysis.

While the app takes advantages of CommBank’s vast volume of consumer transaction data, the bank stressed that the app is secure and private. All data used in Daily IQ is aggregated and de-identified, with no individual information made available, it said.

“Advanced analytics can help businesses gain valuable insights to better manage sales and inventory and provide new intelligence on where savings and growth can be achieved,” CommBank CIO Michael Harte said in a statement.

“This can enable businesses to more effectively manage operations and provide better support to make product, pricing and investment decisions.

Gary Roach, CommBank acting executive general manager of corporate banking, said the app will be of particular benefit to businesses with limited budgets.

“Business analytics have often been the domain of larger companies, due to the investment involved in accessing multiple data sources,” he said. “Now with Daily IQ, all businesses can have access to tailored insights in one convenient location.”

The Daily IQ app is free for CommBiz customers and is now available on the iPad from the App Store.

Adam Bender covers telco and enterprise tech issues for Computerworld and is the author of a dystopian novel about surveillance. Follow him on Twitter: @WatchAdam

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