Topic
Assessing the Impact of Big Data on the Banking Sector
Instructions
This is a “Marketing Planning Report” but is similar to a dissertation in structure.
Your assignment is to submit a 7,000 to 9,000-word research report assessing the
potential impact of “Big Data” on the “Banking” sector.
Your report must draw on the relevant Marketing research literature.
- Finish the entire dissertation according to structure below and use “Template.docx”:
- Executive summary (100 words – no more than one A4 page)
- Introduction (500 words) – Clearly state your aims and objectives
- Work Carried Out (600 words) – see next section on how what this should be
- Results (1700 words)
- Conclusions (800 words)
- Recommendations (800 words)
- Appendix 1: NINE Presentation slides
Answer Preview
Big data has become a pivotal component of the banking industry since it is applied in many processes. Therefore this study aims at exploring the current status of big data in the sector. The work carried out segment examines the use of thematic analysis to explain the data collection methodology. From the findings, it is clear that big data enables banks to comprehensively understand the customers from the data collected and tailor products to suit their desires. However, the research had some limitations, like logistics difficulty and time constraints. Big data serves banks well; nevertheless, specific recommendations to the banking sector practitioners would massively improve the effectiveness of activities concerning big data. For instance, there is a need for banks to invest in security systems to combat data breaches that are rampant in the current technological landscape.
As technological trends sweep across the globe, various industries work out on modalities to tap such patterns. The banking industry is massively dependent on the use of big data for multiple operations to improve customers’ experience. Big data happens to be one of the most recent business and technical aspects of the internet age. Therefore, the research aims to give an in-depth exploration of the big data and how it has revolutionized business in the banking sector. The financial services industry is probably the most data-intensive as institutions have to gather enormous data about their customers like transaction history, among others. Accordingly, the following objectives will be the linchpin of this research:
Word Count: 7900