Data Analytics Problems in ANZ Bank: A Case Study for MGMT 20132

Desklib provides solved assignments and past papers to help students succeed.

MGMT 20132- INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Data analytics problem in ANZ bank LTD.
MGMT 20132- INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Error! No text of specified style in document. 1

Table of Contents
Executive summary 3
1. Part 1 Problem 5
1.1 Background...................................................................................................5
1.2 Definition of problem...................................................................................5
1.3 Evidence of problem.....................................................................................5
1.4 Timing considerations...................................................................................5
1.5 Consideration of the broader context............................................................5
2. Part 2 Benefits 6
2.1 Benefits to be delivered................................................................................6
2.2 Importance of the benefits to Government...................................................6
2.3 Evidence of benefit delivery.........................................................................6
2.4 Interdependencies.........................................................................................6
3. Part 3 Strategic response 7
3.1 Method and criteria.......................................................................................7
3.2 Strategic options analysis..............................................................................7
3.2.1 Strategic interventions......................................................................7
3.2.2 Strategic options...............................................................................7
3.3 Recommended strategy.................................................................................8
4. Part 4 Project options analysis 9
4.1 Project options considered............................................................................9
4.2 Stakeholder identification and consultation..................................................9
4.3 Social impacts...............................................................................................9
4.4 Environmental impacts.................................................................................9
4.5 Economic impacts.........................................................................................9
4.6 Overall evaluation of socio-economic and environmental impacts..............9
4.6.1 Cost-benefit analysis (economic evaluation)....................................9
4.7 Financial analysis........................................................................................10
4.8 Risk comparison.........................................................................................10
5. Part 5: Deliverability of recommended solution 11
2 Error! No text of specified style in document.

5.1 Details of recommended solution...............................................................11
5.2 Commercial and financial...........................................................................11
5.2.1 Procurement....................................................................................11
5.2.2 Risk assessment and management..................................................11
5.2.3 Funding sources..............................................................................11
Error! No text of specified style in document. 3

Executive summary
ANZ bank is one of the largest banks of Australia which has already covered more than 40%
of market share. The ANZ bank is one of the biggest competitors for other banking industry
in Australia because it has developed effective and innovative policies which have developed
its market growth.
As it was analysed that the company is facing certain problems at the time of gathering the
data and proper information related to customers. Wrong information and failures in data
analytical lead to major challenges for the company. The report explores the challenges which
are faced by the company at the time of analysing the data and some effective strategies and
techniques are recommended in the business report which helps in developing innovation in
the organisation.
4 Error! No text of specified style in document.

1. Part 1 Problem
The critical data analytical challenges which are faced by ANZ bank at the time of
analysing the data and in collecting all the information at the time of performing
business operations. Lack of data security, data discrimination and misconduct use of
data privacy leads to several issues which create a bad impact on the customer
retention as company fails in providing quality services and in providing security to
their bank accounts.
1.2 Background
Lack of data security not only develop challenges in the context of a company, but it
also develops critical situations for the customer also. As data breaching leads to bad
impact on customer accounts and many of the customers have lost their funds due to
data privacy hacking (Egetoft, 2019). There is a need to focus on such data ethical
issues and it is the role of government to develop intervention strategies which might
help in analysing the main aspects behind data discrimination and help in developing
some effective strategies and techniques to overcome such challenges for the society
(John, et.al., 2016).
1.3 Definition of the problem
Data analytics problems are related to misuse the essential information of a person by
another person through using misconduct activities such as data breaching and due to
lack of data security. Customers are widely affected by this problem as they are
losing their funds from their accounts and their essential information and data are
used for misconduct activity. The nature of data analytical problem is an ongoing
problem (Egetoft, 2019).
1.4 Evidence of the problem
A number of customers are facing problems in relation to data ethical issues as they
are losing their funds from their bank accounts and their personal account information
is used in unethical ways. Bank have to manage excessive data of its customers and
lack of data management and data analytics develops challenges for society as well as
their financial funds are not secured in the bank (Lekha, & Prakasam, 2017). It is
analysed that ANZ bank has lost its 5% market share and has face downfall in
customer retention rate. Bank has reduces its liquidity balance ratio which results in a
Error! No text of specified style in document. 5

crisis in the banking industry as customers are losing its interest and satisfaction from
banking services (Egetoft, 2019).
1.5 Timing considerations
It is necessary to consider these critical challenges in a timely manner as these
misconduct activities through hackers should properly analyse by government
intervention techniques and there should develop effective control on such
cybercrime activities. The bank should enhance their techniques and develop an
effective data management process for securing data and personal information of
customers (Hung, et.al., 2016). These hacking and data breaching activities should be
legally prohibited through the government for customer safety.
1.6 Consideration of the broader context
There is an essential need to develop and implement data analytics tools which help
in managing and securing the data and account information of banking customers.
The bank should adopt some artificial techniques through which every information
and realistic data can be effectively managed and control.
6 Error! No text of specified style in document.

2. Part 2 Benefits
The essential objective is to focus on the customer retention rate of the ANZ bank in
the Australian market. As sustainability growth of a company mainly depends on its
customer retention, the company is maximising its growth from the last 10 years but
these data management issues have decreased its market share for 2.5%. After
verifying the results, ANZ bank has to develop some effective data management
techniques which help in developing customer satisfaction and economic growth of
the company in the market (Hung, et.al., 2016). Bank has to use business analytics
techniques which develop effective control over data managing activities and this also
may help in developing effective management on all other activities and provide
satisfaction to customers by securing their informatics accounting data (Hashem,
et.al., 2015).
Through data analytics techniques bank will help in analysing how data breaching
technique is approaching and what are the main factors and aspects which help in
developing control. Such a process will help in enhancing the economic condition of
business in the market and enhance customer satisfaction by securing their essential
data. Thus, such an issue can be identified and get control over customer retention
rate and profitability ratio of the bank (Webb, 2018).
2.2 Benefits to be delivered
By overcoming the data management and analytics issues, the bank can enhance its
customer market share again and can enhance its profitability. As the market share of
the company can be increased up to 5% after solving such data analytics challenges
and help in developing business growth in the market by enhancing tough
competition in the banking sector. Overcoming the challenges will provide security to
society which leads to social good fairness and will enhance the economic growth of
ANZ.
2.3 Importance of the benefits to Government
The data analytical management will enhance the efficiency of management of ANZ
Bank and tools of data analytical techniques such as R programming, SAS, etc. in
which R programming is one of the leading data analytics tools which help in
developing engagement of systematic process of bank through which bank can secure
and store the account information in systematic ways (Tabasum, 2018). Further, it
Error! No text of specified style in document. 7

will connect government intervention which helps in analysing the challenges which
are faced by the society and leads to advantages for the corporate sector by reducing
such challenges in society.
2.4 Evidence of benefit delivery
ANZ Bank always successfully delivers its quality services to its customers from last
15 years, by implementing such data analytics technique the ANZ bank will empower
the market growth by reducing such critical data management issues (Hung, et.al.,
2016).
2.5 Interdependencies
The key interdependencies in relation to the project are stakeholders of the bank,
government rules and policies and ethical distribution of data management services.
8 Error! No text of specified style in document.

3. Part 3 Strategic response
The main purpose of ANZ bank is to enhance data management technique which will
help in reducing the data discrimination, data privacy issues and overcoming through
data analytical problems. For which bank has to develop innovative strategies which
will lead to productive result in the context of customer, society, government, and
business also.
3.2 Method and criteria
To examine the failure factors behind poor data managing process and for data
discrimination, the business report has developed some specific interventions which
will highly impact on data management techniques and will help in overcoming such
issues in an effective manner. Some of the interventions are stated in the below table:
3.3 Strategic options analysis
3.3.1 Strategic interventions
Some potential interventions in relation to the project are discussed below:
Strategic Interventions
Intervention 1- Data technique interventions
Intervention 2- Business system interventions
Intervention 3- Marketing and customer interventions
Intervention 4- Competitor interventions
These interventions will help in developing effective strategies by analysing each
and every aspect in the context of data analytical problems.
3.3.2 Strategic options
The potential strategic interventions which are developed in the above section will
lead to a productive result. Data techniques interventions will help in analysing how
data get breached through online hacking activities and help in finding some ways
through which bank can develop effective strategies in developing data management
techniques by comparing current data systems existing in business (Tabasum, 2018).
Along with this, the marketing and customer intervention will help in enhancing the
systematic approaches for ANZ bank.
Error! No text of specified style in document. 9

3.4 Recommended strategy
This report recommended to develop data management systems and techniques and
upgrading the existing systems of data analytics techniques and enhance efficiency
and market growth of the company.

4. Part 4 Project options analysis
The project aims to focus on the existing data analytics techniques and by developing
data management approaches through different options. ANZ bank can analyse the
policies and techniques which are used by other national banks such as Westpac,
Queensland and Commonwealth game. By analysing the strategies of competitors in
the market, the ANZ bank can develop such effective techniques which will empower
customer retention rate, profitability, and productivity of the company.
Further, the bank can take over the other small bank which helps in covering it's
losing market share and help in developing economic growth in the market by
developing customer retention rate.
4.2 Project options considered
Analysing the market competitor strategies is the preferred project option. This will
help in maximising the efficiency of the existing system and will help in
accomplishing the targets in a timely manner.
4.3 Stakeholder identification and consultation
Political stakeholders, official regulators, internal and external stakeholders, market
mediators and other consultancy company are the main stakeholders of this project.
4.4 Social impacts
The project contributes to enhance the sustainable growth of the company by
developing effective data analytics techniques with the help of data analytics tools
and other sources will lead to provide safety to society and develop awareness among
people about such financial and data analytics threats.
4.5 Environmental impacts
It is essential to develop better environment conditions which can be developed by
overcoming such issues and by developing technical advancement in the context of
securing the essential information of customer accounts. This will develop a better
environment as the customer develops its trust in banking structures and policies
(Webb, 2018).
Error! No text of specified style in document. 11

4.6 Economic impacts
Better technological advancement and effective data management techniques will
help in developing better economic condition of the company in the market and can
enhance its sustainability for a long period of time.
4.7 Overall evaluation of socio-economic and environmental impacts
4.7.1 Cost-benefit analysis (economic evaluation)
After developing the effective strategies and techniques by comparing other market
competitors and by developing effective data management techniques to secure the
effective information of customer by reducing the data discrimination and other
ethical issues will bring productive result for the society and customer welfare. All
these strategies and techniques will be implemented in the estimated overall cost of
$50000 dollars. Thus this will not create any negative impact on business economic
growth as ANZ bank is one of the largest banks in the Australian market which offers
its services to more than 150 million customers.
4.8 Financial analysis
In completing the project the estimated capital is required $50000 which includes all
the activities and procedures such as thinking process, implementation, previous
project analysis, and technical equipment. All such activities and their cost are
estimated in completing the project in an efficient manner.
4.9 Risk comparison
As there are several risk factors which are present at the time of completing this
project. Failures of systems at the time on working on the project may lead to
developing major loss for the company as it also may negatively effect on the
economic condition of ANZ. As there is a high chance of occurring the risk factors.
So it the liability of project manager to develop strategic approaches which may help
in analysing risk factors in an effective manner.