Report: Big Data Analytics, Transformation, and HSBC's Best Practices

This report delves into the transformative impact of big data analytics on contemporary business operations, with a specific focus on HSBC, a leading international investment banking company. It highlights how big data analytics has revolutionized business operations by reducing costs, enhancing business intelligence, and enabling targeted marketing. The discussion emphasizes the importance of big data analytics in HSBC, particularly in improving data-driven decision-making, regulating agendas, and combating financial crime through machine learning and curated datasets. Furthermore, the report identifies best practices within HSBC, such as understanding business requirements and leveraging appropriate data analytics for continuous analysis, underscoring the significance of effective big data management for organizational success. Desklib provides access to similar solved assignments.

Managing Big Data -
Individual Report

Table of Contents
Part A...............................................................................................................................................1
Introduction............................................................................................................................1
How Big Data Analytics has transformed the contemporary business operational landscape
and performances over the last few decades..........................................................................1
Discuss the importance of Big Data analytics in HSBC........................................................1
Identifying Big Data analytics best practices within HSBC..................................................1
Conclusion..............................................................................................................................2
References........................................................................................................................................2

Part A
Introduction
Big data can be defined as the large volumes of data which are difficult to manage
manually. It can be in the form of structured or unstructured also. It must be analysed because it
helps in decision making and brings up the confidence for making the strategic business moves
(Schloemer, 2022). Organization chosen is within the finance industry. HSBC is one of the
leading international investment banking company established in 1865 and headquartered in
United Kingdom. The following discussion is based on the big data transformation and its
importance in HSBC along with the best practices of it within an organization with proper
conclusion.
How Big Data Analytics has transformed the contemporary business operational landscape and
performances over the last few decades
Big data analytics has transformed the operations of the business and performances in
such a way that it has supported the organizations in reducing the cost of operations and time
consuming way of management as well. It has provide the better business intelligence and more
tactical ways of targeted marketing. It has assisted in the proactive customer servicing customer
responsive products as well. It has supported in the rise of CDO and data departments. It has
further aided in the transformation in the improvements in efficiency (Jensen, Nielsen and
Persson, 2019).
Discuss the importance of Big Data analytics in HSBC
Big data analytics has given benefits to HSBC by improving the data driven decision
made within the business. This has supported the organization in regulating their agendas. HSBC
has different modern analytics and modules of machine learning which are running on massive
and curated datasets in order to assists in the automated decisions making. This has aided in
fighting against the several risks and financial crime along with the dangerous frauds that can
occur with the company (Rossi and Hirama, 2022).
Identifying Big Data analytics best practices within HSBC
There are several best practices of big data analytics within HSBC through which the
company can handle the large volumes of data in a strategic manner in order to gain good
effectiveness and efficiency in operations. HSBC understands the business requirements in an in
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depth manner by determining the collected digital assets so that identification can be made of
what is missing. Then the company comprehend that which type of data analytics must be
leveraged so that data could be analysed in a continuous manner (Bukhari, 2021).
Conclusion
It is concluded that big data management is an important concept to learn and study so
that its applications can be applied in the real world organizations. This is because it enhances
the business operations and take the organization to its next level in terms of decision making
and future considerations. Therefore, it is vital assess the big data transformation. It is crucial to
evaluate the importance of big data. It is imperative to investigate the best practices of big data.
Hence, the above discussion covers all such areas in order to better understand the conception of
big data management.
References
Books and Journals
Bukhari, S. O. (2021). Cloud Algorithms: A Computational Paradigm for Managing Big Data
Analytics on Clouds. In Intelligent Systems (pp. 455-470). Springer, Singapore.
Jensen, M. H., Nielsen, P. A., & Persson, J. S. (2019). Managing big data analytics projects: The
challenges of realizing value. In European Conference on Information Systems.
Association for Informations Systems, AIS.
Rossi, R., & Hirama, K. (2022). Characterizing big data management. arXiv preprint
arXiv:2201.05929.
Schloemer, T. H. (2022). Managing big data. Nature Energy, 1-2.
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