Big Data Essay

Big Data Analytics On Banking Sector – Comparative Study

Dr. G. Shanmugasundaram M.Tech,PhD, D.Prasanya, R.Vishnu Priya, S. Keerthana

Department of Information Technology

Sri Manakula Vinayagar Engineering College, Pondicherry

Abstract The Big Data revolution provides the beneficiary approaches in many sectors by the valuable data it extracts. The financial sector has gone through extraordinary changes in the recent years. Customers are expecting a more personalized service from the banks. The banks reap the most benefits from Big Data as they now can use this data to predict the client behavior, evaluate their progress and to create a competitive business environment. We focus on providing the three dimensional approach by setting

Customers are the upholders of the banks and they produce humongous amount of data everyday during each deal out. Every bank varies in its working, transaction, security policies and functioning. These things make the banks vary in its ranking and popularity too. These services inspire their customers and also it makes the people believe on their banks to deposit transact and process their money. Although the Indian banking industry has witnessed significant growth in last few years, comparatively lower levels of financial inclusion remains a concern which leads them to bankruptcy. So we need an analytical tool to track the business, to understand the customer’s needs and to improve their services to create a competitive environment.

Literature Reviewed

The impact of Big Data Analytics on banking sector paper focused on customer satisfaction, fraud and detection analysis, feedback from each customer, channel usage, product Cross Selling based on the profiling to increase hit rate. It gets the feedback from the customer for the period of 4 years and improve their area of issues. It also analyze the transactional activities like observing the credit card and debit card usage of 4 subset of stack holders