Analysis of Prudential's Customer Data Usage for Business Growth

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INTRODUCTION
• Prudential Public Private Limited
company is providing financial
services to an Individual and
Organizational Customers which
helps them to grow in their eras
and protect their money.
• This company provides variety of
services like Life Insurance,
mutual funds, retirement related
services etc.
• This company uses customer’s
data and information for the
future services.

ROLE OF INFORMATION AND DATA
• This Company basically Drives on
Customer’s data and information.
• All alerts and communication are
based on the customer’s
information.
• Using the customer’s data,
Company provides future services
to customers.
• This company provides financial
services based on the past details
of customers.

DATA COLLECTION AND USAGE
Data Collection
• In this Organization the company
executives collects the customer’ data
to provide them the financial services.
• This Data mainly includes Customer’s
Name, DOB, Contact, Address,
Occupation, Nominee, and financial
status. Verification is also mandatory.

DATA COLLECTION AND USAGE
Data Usage
• For providing the services to
customers it is necessary to use
the customer’s data properly.
• Mainly Contact information can
be used for communication.
• Nominee information can be
used for the future services.

USE IN DAY TO OPERATIONS
• The customer’s data is used to
generate the alerts for the
premium of Life Insurance
Policies.
• Customer’s Account Details are
used for generating the day to
day interest on amount.
• Customer’s data can be used for
maximum leads.

HOW INFORMATION IS CAPTURED &
STORED
• Demographic Data: This type of
data consist the facts about the
customer like Age, Marital Status etc.
• Administrative Data: This
database contains the information of
any previous insurance of customer.
• Health Risks: This database stores
the information which reflects the
customer’s lifestyle and behavior.

HOW INFORMATION IS CAPTURED &
STORED
• With the help of various
databases and information
systems, data can be stored in
many ways.
• These databases helps in
making the data clean and more
specify.
• There are many types of
databases which can be used in
storing data for financial
services.

DATA USAGE IN BUSINESS DECISION
MAKING
• The finance department data is
most important of business
decision making.
• Customer provides his data and
also money to invest in his
future services.
• If a customer will invest more
then Company revenue will be
increased so customer’s data
plays important role in business
decisions.

RESEARCH STUDIES IN CONJUNCTION
WITH MIS AND OTHER DATABASE
Primary Studies
• Market Information System (MIS)
includes people/customers,
analyzation of business, evaluation of
process.
• MIS is used for accurate market
decisions and other specifications.
• Study of market changes are the
primary studies.

RESEARCH STUDIES IN CONJUNCTION
WITH MIS AND OTHER DATABASE
Secondary Studies
• The customer’s data can be
processed for market strategies.
• Data plays an important role in
marketing information system.
• This creates timely flow of
business.

REFERENCES
• Pan, G. and Seow, P.S., 2016. Preparing accounting graduates for
digital revolution: A critical review of information technology
competencies and skills development. Journal of Education for
Business, 91(3), pp.166-175.
• Coleman, S., Göb, R., Manco, G., Pievatolo, A., Tort‐Martorell, X. and
Reis, M.S., 2016. How can SMEs benefit from big data? Challenges
and a path forward. Quality and Reliability Engineering
International, 32(6), pp.2151-2164.
• Hulland, J., Baumgartner, H. and Smith, K.M., 2018. Marketing
survey research best practices: evidence and recommendations
from a review of JAMS articles. Journal of the Academy of Marketing
Science, 46(1), pp.92-108.