How financial firms can leverage big data analytics for developing strong consumer loyalty

Abstract

A powerful technological shift and altered consumer expectations influence the banking industry in USA. Banks have far more data about their customers than other industries. Innovative solutions and methods have been created on the basis of mathematical statistical versions. This knowledge is used to focus on the buyer, and it is termed as "Accounts" and "Big Data" also to have the ability to offer items that fit exactly from the info gained. The primary reason for this particular analysis is to investigate how "Big Data Analytics " could be discussed and utilized as a renewable client loyalty instrument. The examination of the subject is carried out in the following rational order: Background, research question, and introduction, hypotheses and methods, conclusion and discussion, directions and limitations for more research. When working with Big Data Analytics, you will find various perspectives, e.g. from the bank's perspective and from the bank client's point of view. To answer the question of renewable client loyalty from the consumer perspective, the connection between Analytics and "Big Data" and the concepts of client advisory will be investigated. This particular newspaper provides the end result of an empirical evaluation based on a survey from September 2021 in USA.