The impact of big data and analytics on banking
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The impact of big data and analytics on banking
One of the main ways that big data has impacted the banking industry is through the use of customer data. Banks are now able to collect and analyze vast amounts of data on their customers, including information on their financial transactions, credit history, and social media activity. This data can be used to create detailed customer profiles, which can be used to personalize banking services and improve customer retention.
Big data and analytics have also been used to improve risk management in the banking industry. Banks can use data to better identify and mitigate potential risks, such as fraud or money laundering. For example, banks can use data to identify patterns of suspicious activity, such as multiple small transactions followed by a large withdrawal. This can help them to detect and prevent fraudulent activity before it occurs.
In addition to these benefits, big data and analytics have also been used to increase operational efficiency in the banking industry. Banks can use data to identify inefficiencies in their operations, such as bottlenecks or areas where costs can be reduced. For example, banks can use data to analyze the performance of different branches or to identify areas where they can automate processes.
In conclusion, big data and analytics have had a significant impact on the banking industry. Banks have been able to use data to better understand their customers, improve risk management, and increase operational efficiency. It is expected that this trend will continue in future and big data will play a vital role in banking industry.
The impact of big data and analytics on banking
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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