Data Resource Management in Westpac Banking

This report discusses the issues faced by Westpac Banking in managing data resources and provides solutions for better data management. It includes literature review, research approach, results, and suggestions for further work.

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IT Write up
Data Resource Management

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Abstract
This report states about the data resources that are very important in the research. The various
views of the authors related to the issues of data resource management are included in this report.
The organization selected to analyze the issues arises in managing the data is Westpac Banking.
The company faces many issues in the process of the data resource management from last few
years therefore, it is necessary for the company to maintain the challenges and managing the data
properly for the better growth of the business. The various components of resource management
are discussed in this report.

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Contents
Introduction......................................................................................................................................4
Overview of Business Issue.........................................................................................................4
Research Approach......................................................................................................................4
Literature Review............................................................................................................................5
Results..............................................................................................................................................8
Discussion......................................................................................................................................10
Suggestions for further work.....................................................................................................10
References......................................................................................................................................12

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Introduction
Overview of Business Issue
Westpac Banking is an Australian bank, which is known as Westpac and it is headquarter, is in
Sydney. It is one of the leading commercial banks in the world. It provides the best quality
financial services and multiculturalism commitments. The management of data includes the
managing of files and data on the computer. In banking services, it is necessary to keep the
record of customer's details and all relevant information in the system. DRM helps in planning,
organizing, describing and controlling data resources. Banking services required the data
resource management system for recording and keeping the relevant information in systems.
Huge data sources and volumes created the issue for the Westpac Corporation. This report
includes several reviews related to Data Resources Management in Westpac Banking. Therefore,
several case studies need to be considered to define the data management in the organization.
The overall process of the report depends on the data resource management in the selected
organization1. The organization working in the banking process and provide banking services to
the people.
Research Approach
The research approach uses to analyse data resource management in the organization. This
research provides various answers related to the research subject. In the process of management
of resources, the data resource required to be of good quality and fulfil the demands of the
organization. The DRM issues are very important for the organization as it manages all the data
related to the employees, customers or the production.2 The Westpac banking suffers from the
DRM issues from the last few years and they need to manage the data resources properly for the
better business in the market.
1 Abhijit Anand, Tim Coltman and Rajeev Sharma, ‘Four steps to realizing business value from digital data streams’
(2016) MIS Quarterly Executive.
2Patrick Braemer and Horst Grischer, Domestic systemically important banks: an indicator-based measurement
approach for the Australian banking system. Univ., Faculty of Economics and Management (2012).

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Literature Review
According to the author, Westpac Banking Corporation faces many challenges in the overall
process of the topic that relates to the management of data. The companies miss the several
opportunities that arise in the data management process.3 The data collaborations of the company
face several issues that affect the overall development of the organization and it destroyed the
uncertainty and inaction. The problem faced by the company is that data sharing is a little
complicated from another process so it is important to manage the overall resources of the
organization. The bank needs to manage the resources and make proper access to the parties that
use the resources and the sharing of data is important in all this process. The data management
resources face the risk related to the legal issues and terms that need to manage the resources of
data. The main risk is related to the security of data and sharing of data among the employees.
The bank also faces the several technical challenges in managing the data of the business so to
overcome the challenges it can retain visibility and control of the datasets.
The organization need to manage the data resources properly for the proper maintenance of the
data related to the customers and employees. The data resource managements implement the
strategic change in the overall organization and increase the several benefits retained by the
organizational employees in the business market. The DRM issue of one of the biggest issue
faced by Westpac Banking as the organization has many data to manage as it is related to the
banking sector. The bank has many data to manage like the employee's information, the customer
information and the several processes of the production. The organization faces many problems
due to the resources of management. The challenges occurred in the company due to the data
resources management affect the growth of the company and affect the performance of the
company. The several problems related to the data resource management is that technical data
not recorded properly, data cannot be properly maintained in the organization, the financial data
cannot be maintained, data cannot be stored in a proper manner, the technical process cannot be
managed in the organization and data cannot be retained by the organization. Westpac banking
faces all these problems due to the lack of resources management. The recording of the technical
3 Ashley Branganza, Laurence Brooks, Maged Ali and Russ Moro. ‘Resource management in big data initiatives:
Processes and dynamic capabilities’ (2017) Journal of Business Research, 70, pp.328-337.

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data is very important in the organization as this data gives very advantages in the management
of the business. The maintenance of data in any organization is compulsory and it can be
achieved due to the issues of DRM as this issue creates many disadvantages for the company.
The data resource management is very effective in the overall process of business4. By managing
the data resources, the organization attained more benefits and get an important place in the
market. The banking institution includes several data like the data of the customer, data of the
employees and data of the accounts and money. The concept of administrating the information is
very important in Westpac banking then only it achieves various benefits in the business. The
employees of the organization also get help with the data resource management as they access
the data of the customers and manage all the process of the customers and increase the better
management of the data resources. The organization gets effective growth with data resource
management and increases the better performance in the market.
As per the views of the author, the lack of management of data that creates many challenges and
decreases the overall performance of the employees as well as the organization5.This
management creates several career opportunities for the employees as a position of the data
administrator. The process of data storage and analytics improves the overall strategies of the
organization and crate much effective process on the overall organization. The issues of the
particular concept required to maintain for the growth of the organization. By putting some
efforts, the organization can overcome the issues and create a successful data resources
management in the organization.
The Westpac Banking industry makes a special platform for the proper data collaboration and it
increases the overall opportunities in the organization. By making proper collaboration in data,
the Westpac get several outcomes and increases the external analysis in the organization. The
4CL Phillip Chen, and Chun-Yang Zhang, ‘Data-intensive applications, challenges, techniques and technologies: A
survey on Big Data’ (2014) Information sciences, 275, pp.314-347.
5 Dimitris N Chorafas, and Heinrich Steinman, ‘Expert systems in banking: a guide for senior managers’ (2016)
Springer.

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risk management capabilities also get strong by implementing successful data collaboration in
the business. The framework of data management creates the best productivity for the business
and increases the overall impact of the proper management of data in the organization. The
company faces many challenges due to the lack of data resources management. The main issues
related to the proper management of the data resources. These issues can make the organization
sustain in information technology.
For the better resources management of data, the Westpac organization needs the trained people
and there is a lack of qualified and trained people so the company cannot manage the proper data
resources management. Nowadays, people are indulged as a position of data administrator and
the issue of trained people is reduced from the business market. The other issue is the increase of
data volumes in the organization, as due to the increase of volumes in data, it cannot easily be
managed by the organization and creates many problems in the process6. Therefore, the
organization ignores the management of large data volumes. In the large organizations, the
vendors are continuous changes as this can create problem in the management of the data
resources, as the constantly changing landscape is not better for the growing organization. The
inefficient use of resources is also a big issue in the data resources management and these issues
decrease the overall performance of the organization. Therefore, the organization needs to
manage the proper use of resources for better data administration. The scalability is also an issue
for the small database management system in the organization, the business needs to manage the
scalability at the particular position so the small database can be managed easily and cannot put
extra efforts on the data management.7 The data security is also one of the biggest issues in the
Westpac banking, as for the banking process the data needs to be secured. This issue decreasing
the customers from the banking organization.
6 Thomas Connolly and Carolyn Begg, ‘Database systems’ (2015) Pearson Education UK.
7 Parag Gokhale, Rajiv Kottomtharayil, Amey VijayKumar Karandikar, and Yu Wang, ‘Data storage resource
allocation by employing dynamic methods and blacklisting resource request pools’ (2016) U.S. Patent 9,262,226.

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Results
From the above review of authors, it has been determined that all of the processes of the
organization need a proper system to manage the data. The Westpac banking gets affected the
large volumes of data as there are many data indulged in the organization. Therefore, the large
volumes of data also improve the overall benefits of the organization. Westpac organization
maintains business intelligence by using proper data resource management. The organization
achieves the better security of data and maintains the proper data of the organization so that
customers involved in the business.8 It is essential for the Westpac banking to maintain the
privacy of the data related to the customers so that they have no fear related to the loss of data.
The data resource techniques improve the overall process of the organization and make proper
management in the business process. The proper plan of the management increases the flexibility
and sustainability in the organization and it overall improves the efficiency of the data resource
management. The approach of the database management is very important and it gives certain
better results to the organization.The external data can be easily managed with this particular
approach of database management. The organization uses to develop efficiency in data security
and make a proper framework for the proper utilization of resources, which helps the
organization in the data collection and analyzing. The privacy enforcement framework involves
various features to manage data privacy and maintain the overall specific issues of the
organization. Data resource management includes various systems in the overall organization.
The main efficiency related to database management is to maintain the proper security of the
data. The process of database management is related to the overall process related to the
business. The organization required to develop better management so all the challenges occurs in
the management can be resolved easily. The database management needs to be implemented
properly so that the customers get attracted towards the organizational services. The above
discussion defines several challenges in the process of data resource management. However,
Westpac banking process improves in their data management process and overcome the several
8 Ajay Gulati, Anne Holler, Minwen Ji, Ganesha Shanmuganathan, Carl Waldspurger and Xiaoyun Zhu, Vmware
distributed resource management: Design, implementation, and lessons learned (2012) VMware Technical
Journal, 1(1), pp.45-64.

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challenges occurred in the process. 9The organization need to use the several strategies related to
the use of a database to make it proper10 The results show that all the aspects of the organization
need to be proper and accurate in the database management. The Westpac banking has several
types of data and all data are need to be managed properly so that all the challenges can be easily
overcome in the organization and it achieve success in the field of the database management
resources. The working process of database management is difficult as it includes all types of
data in the organization.11 The above analysis describes the problems faced by Westpac banking
in the management of data resources.
The results analyzed that all the process of the organization need to be properly implemented in
the database system so that all the records can be managed easily and increases the effectiveness
in the organization. The business becomes potentially oriented due to the several benefits
achieved by the proper management of data resources. In all of the process of database
management, the security matters a lot because data security is very important in the overall
activities of the organization. The information should be placed in an accurate place to maintain
the overall process of the organization. It has been analyzed that DRM issues affect the overall
progress of the organization and create many benefits for the business. The DRM provides data
abstraction and data independence, which makes the data independent in the business. The data
becomes secure by using the process to remove the issues in the DRM, as the security of data,
which is very important in the overall system of organization. Westpac banking increases the
9 Aditya P Gurajada, Amarnadh Sai Eluri, Vaibhav A Nalwade, Jian Wu, Daniel Alan Wood, and Yanhong Wang,
Sybase Inc, ‘Managing data storage as an in-memory database in a database management system’ (2016) U.S.
Patent 8,868,510.
10 Benjamin T Hazen, Christopher A. Boone, L. Allison Jones-Farmer, ‘Data quality for data science, predictive
analytics, and big data in supply chain management: An introduction to the problem and suggestions for research
and applications’ (2014) International Journal of Production Economics, 154, pp.72-80.
11 Obhyung Kwon, Namyeon Lee and Bongsik Shin, ‘Data quality management, data usage experience and
acquisition intention of big data analytics’ (2014) International journal of information management, 34(3), pp.387-
394.

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overall performance of the DRM by maintaining the security of the organization. The several
applications can handle properly by using multiple applications in the organization. The DBMS
provides a systematic way to create data and secure the overall process of the organization.12
DRMS is one of the main processes that creates several issues in Westpac banking. The results
showed that by using the several processes of the database, the organization become effective in
the DRM process and decrease the several issues that created by the DRM process. The DRM
issue is mainly found in the banking sectors as there are many data to manage the process and
keep it secure and private.13 As the data resources, management creates many issues in the
organization, as many challenges affect the overall work. All the challenges can be easily
overcome by implementing the several challenges in the organization and used to define the
process to overcome the challenges to make the DRM properly.
12 Kenneth C Laudon ,and Jane P Laudon, Management information system (2016) Pearson Education India.
13 Chan Seung Moon, altibase Corp, ‘Database management system and encryption method performed in the
database’ (2015) U.S. Patent 8,949,603.

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Discussion
Westpac Banking is one of the main banking company that largely affects data resource
management. Efficient resource management is one of the main processes that need to be
processed by the organization for the better DRM process. The organization uses several
effective strategies to collect the relevant data and keep it secure as per the customer point of
view. The organization makes all of the process related to the DRM and it is one of the main
parts of any organization.14 The services offered by the organization needs to be maintained
properly by managing the potential intelligence towards clients. The whole analysis of this
organization depends on the large volume of data and this challenge makes the organization
intelligence better. The large volume of data can be managed in a qualified process that
maintains all the strategies used to manage the large volume of data. The organization works to
provide the banking services to the organization and these services needed to be secure so the use
of DRM is a big issue in the particular process. The accurate and secure data needed by the
clients and this increases the potential of the business in the market. The several benefits gained
by the company by overcome the issues regarding data resource management and utilize all of
the resources properly for the management of the data. The DRM process can manage a large
collection of data. The several legal rights and legal issues are also connected with the process
and it increases the betterment in the data management process. The organization need to follow
the proper laws as per the privacy regulation of the data so that data can be implemented
properly.15 The banking organization needs accurate business intelligence for the large
systematic process of data management and to increase the effectiveness in data management.
The organization need to implement certain data management process to make the systematic
data process.
14 Marcus S Muller, CommVault Systems Inc, ‘Power management of data processing resources, such as power
adaptive management of data storage operations’ (2014) U.S. Patent 8,707,070.
15 Gul Nalcaci, and Mehmet I Yagci, ‘The effects of marketing capabilities on export performance using resource-
based view: assessment on manufacturing companies’ (2014) Procedia-Social and Behavioral Sciences, 148,
pp.671-679.

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Suggestions for further work
The data collection is an important process in the data analysis and data management process. It
performs specific functions in managing the data resources and implemented it effectively in the
organization. The business intelligence functions are used in the data management process and it
increases the efficiency in the data and improves the overall business of Westpac banking. The
banking needs to be proper in the data management process and make the proper security of data
in the business. 16The organization needs to be secure the data properly for gaining the attraction
of the customers. The business needs to use several data tools for the proper management of the
data and increases the effectiveness of the organization.17 The data tools used in managing the
human resources and increase the level of the organization process to save the proper data in the
process.18. The several changes are required for the betterment of the data management and it
increases the value of the organization among the customers and increases the system security
related to the confidential data of the employees.19
16 Manfred Reinart, SAP SE, ‘Methods and systems for exchanging data between a command and control
information system and an enterprise resource planning system’ (2012) U.S. Patent 8,166,130.
17 Punit B Shah, Nuzio Ruffolo, and Enzo Cialini, International Business Machines Corp, ‘Autonomic self-tuning of
database management system in a dynamic logical partitioning environment’ (2012) U.S. Patent 8,145,872.
18 Uthayasankar Sivarajah, Muhammad Mustafa Kamal, Zahir Irani, and Vishat Weerakkody, ‘Critical analysis of
Big Data challenges and analytical methods’ (2017) Journal of Business Research, 70, pp.263-286
19Yichuan Wang, LeeAnn Kung, and Terry Anthony Byrd, Big data analytics: ‘Understanding its capabilities and
potential benefits for healthcare organizations’ (2018) Technological Forecasting and Social Change, 126, pp.3-13.

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References
Anand, A, Coltman, T and Sharma, R, ‘Four steps to realizing business value from digital data
streams’ (2016) MIS Quarterly Executive.
Braemer, P. and Gischer, H, Domestic systemically important banks: an indicator-based
measurement approach for the Australian banking system. Univ., Faculty of Economics and
Management (2012).
Braganza, A, Brooks, L, Nepelski, D, Ali, M, and Moro, R, 'Resource management in big data
initiatives: Processes and dynamic capabilities’ (2017) Journal of Business Research, 70, pp.328-
337.
Chen, C.P. and Zhang, C.Y, ‘Data-intensive applications, challenges, techniques and
technologies: A survey on Big Data’ (2014) Information sciences, 275, pp.314-347.
Chorafas, D.N, and Steinman, H, ‘Expert systems in banking: a guide for senior managers’
(2016) Springer.
Connolly, T, and Begg, C, ‘Database systems’ (2015) Pearson Education UK.
Gokhale, P, Kottomtharayil, R, Karandikar, A.V., and Wang, Y, CommVault Systems Inc,
‘Data storage resource allocation by employing dynamic methods and blacklisting resource
request pools’ (2016) U.S. Patent 9,262,226.
Gulati, A, Holler, A, Ji, M, Shanmuganathan, G, Waldspurger, C. and Zhu, X, Vmware
distributed resource management: Design, implementation, and lessons learned (2012) VMware
Technical Journal, 1(1), pp.45-64.
Gurajada, A.P, Eluri, A.S, Nalawade, V.A., Wu, J, Wood, D.A, and Wang, Y, Sybase Inc,
‘Managing data storage as an in-memory database in a database management system’ (2016)
U.S. Patent 8,868,510.
Hazen, B.T, Boone, C.A, Ezell, J.D, and Jones-Farmer, L.A, ‘Data quality for data science,
predictive analytics, and big data in supply chain management: An introduction to the problem
and suggestions for research and applications’ (2014) International Journal of Production
Economics, 154, pp.72-80.

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Kwon, O., Lee, N. and Shin, B, ‘Data quality management, data usage experience and
acquisition intention of big data analytics’ (2014) International journal of information
management, 34(3), pp.387-394.
Laudon, K.C, and Laudon, J.P, Management information system (2016) Pearson Education
India.
Moon, C.S., Altibase Corp, ‘Database management system and encryption method performed in
the database’ (2015) U.S. Patent 8,949,603.
Muller, M.S, CommVault Systems Inc, ‘Power management of data processing resources, such
as power adaptive management of data storage operations’ (2014) U.S. Patent 8,707,070.
Nalcaci, G and Yagci, M.I, ‘The effects of marketing capabilities on export performance using
resource-based view: assessment on manufacturing companies’ (2014) Procedia-Social and
Behavioral Sciences, 148, pp.671-679.
Reinart, M., SAP SE, ‘Methods and systems for exchanging data between a command and
control information system and an enterprise resource planning system’ (2012) U.S. Patent
8,166,130.
Shah, P.B., Ruffolo, N. and Cialini, E., International Business Machines Corp, ‘Autonomic self-
tuning of database management system in a dynamic logical partitioning environment’ (2012)
U.S. Patent 8,145,872.
Sivarajah, U, Kamal, M.M, Irani, Z. and Weerakkody, V, ‘Critical analysis of Big Data
challenges and analytical methods’ (2017) Journal of Business Research, 70, pp.263-286
Wang, Y, Kung, L. and Byrd, T.A, Big data analytics: ‘Understanding its capabilities and
potential benefits for healthcare organizations’ (2018) Technological Forecasting and Social
Change, 126, pp.3-13.

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