Abstract
Nowadays, Big Data (BD) Analytics is receiving great attention in banking industry, considering the worthy data that have been stored for several decades, to reach the main targets of marketing by increasing the bank’s efficiency of studying their clients, knowing their feedback, in addition to promoting active and passive security systems. This study focuses on utilizing BD analytics to develop marketing intelligence systems. It aims to explore the big data as a valuable resource for Egyptian commercial banks, to improve the customer experience, customer segmentation and profiling, selling products based on profiling, and describing customer behavior. In order to develop the proposed system, data were collected from several banks of transaction performed in 2016, including a report on customer satisfaction, a procedure of analyzing customer satisfaction data, consisting of about 39,000 records of transactions for customers and a collection of about 4,000 records of transaction data for cardholders. These data were analyzed using Apache Hadoop to perform many tasks such as profiling the bank's clients to groups, customer segmentation based on client’s history, interest and habits, predicting customer behavior based on profiling, designing a new marketing strategy, and presenting the right offers to the bank's clients as individuals or as groups. It was concluded that BD analytics were very beneficial for achieving Marketing Intelligence in Banks.
Highlights
Nowadays Big data (BD) has got an extraordinary attention from the academic world and the IT business
Another study in the financial services industry dealt with a particular focus on the banking industry, highlighting many of the business problems that have been resolved through Big Data (BD) analysis
3.2.1Data Creation: Banks provide new services on a continuous basis and daily increase in the number of customers at banks and all its banking establishments are working on the creation and collection of a large amount of data and transactions can be used in BD analytics
Summary
Nowadays Big data (BD) has got an extraordinary attention from the academic world and the IT business. Data are created and collected with hight speed. By 2020, 50 billion gadgets are anticipated to stand associated with the Web. expected data production will be 44 times bigger than in 2009[1]. As data are exchanged and shared at light speed on optical fiber and wireless networks, both volume of information and the speed concerning market development increase. Into real-time practices that relate to consumers, risk, profit, achievement, production, and management. It can be identified as "a collection of information from both traditional and digital sources within and outside the association that is a source of discovery and continuous analysis"[3]. As for the characteristics of BD, certain elements are common across the different definitions, namely the 5Vs Volume, Velocity, Variety, Veracity and Value
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