Topic

Assessing the Potential Impact of Big Data on the Banking Sector

Instructions

Your assignment is to submit a 7,000 to 9,000-word research report assessing the
potential impact of “Big data” (or, alternatively, “Internet of things (IoT)” or
“Surveillance capitalism”) on the “Banking” sector (or, alternatively, the “Retail”
or “Entertainment” sector).

Your report must draw on the relevant Marketing research literature.
You may also draw on any additional framework, theory, concept or idea to conduct your
assessment. Further details for what the report must include can be found in the MN5349 Module
Handbook (available on Moodle).

Using your own judgement is also required when choosing relevant sources to support your
argument and the assumptions you have to make in your report. (It is recommended that your
reference list includes no fewer than 15 relevant sources.)

Answer Preview

The current technological pace means companies must find effective ways of handling enormous volumes of data regarding storage and processing. Gandom and Haider (2015) pointed out that big data is a discipline that identifies ways of analyzing and systematically extracting information from data considered way too huge or sophisticated to be handled by ordinary data processing tools. The amount of data is extremely huge which calls for modern technological platforms that can appropriately deal with the given data. Once in its life time, a firm will have large data, both structured and unstructured; hence, it must find adequate formula for examining the data for outcomes that result to better decision making (Lehrer et al. 2018). More importantly, there are various sources of data for organizations like business transactions, IoT devices and industrial equipment, among others that need to be processed in real time. Thus, the phenomenon comes in handy to describe the whole process from capture to dissemination of the information.

Word Count: 3000