Big Data Strategy to Enhance Analytics Abilities in Banking Sector

This report presents a big data strategy for a large South African banking company, written from the perspective of a Chief Information Officer (CIO). The strategy focuses on enhancing big data analytics across various business areas, including customer segmentation, analytics, and loyalty. Key areas of improvement include customer satisfaction analysis and customer lifetime value analytics. The report also addresses competitiveness through cost reduction and improved business opportunities, emphasizing the need for data on workforce, creditors, competitors, suppliers, and industry trends. Furthermore, it suggests adopting a pilot approach for preventing financial crimes and enhancing compliance management. The use of cloud computing and integrated data architecture is highlighted for better customer communication and data integration. The report concludes by noting the importance of predictive analytics and data science for forecasting future trends and providing optimal offers, particularly for companies like InsureTech. Desklib provides this document along with numerous study resources for students.