Master of Science in Computer Science
Department of Computer Science
Faculty / School
School of Mathematics and Computer Science (SMCS)
Date of Submission
Waqas Mahmood, Visiting Faculty, Department of Computer Science
MSCS Survey Report
To handle a huge data, the co-operate world is moving towards big data. Big data helps in storing, processing, and analyzing a large amount of data in real-time efficiently. Banks have sensitive data as well as the velocity of data. Therefore, it is necessary to protect and maintain their data.
The banking industry must have to satisfy their customer and identify their customer problems as soon as possible. Traditional methods take too much time to extract the data and converting it to meaningful insights. That does not work effectively in real-time data analysis.
This research will aim to highlight the benefits of big data analytics and how it creates valuable profit for the banking sector. They can generate their business value through meaningful insights by analyzing the sales and marketing of their products. This technology brings improvement in their systems. We will explain how big data can prosper the bank's future by tracking their customer behavior and their experiences, detecting fraud, and semantic analyzing the data.
This research will also cover how different techniques of big data analytics impact the decision-making strategy to satisfy the customer and sustain profitability in business value. It creates the opportunity to make decisions in real-time with accurate and complete data. As the transactions are a core part of the bank, big data can analyze online, credit, and debit transactions to do productive innovations in the system and make the better process for customers in an efficient way.
Syed, S. (2021). Impact of big data analytics in creating value in the banking industry (Unpublished MSCS survey report). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/survey-reports-mscs/145
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