Impact of Big Data Analytics on Banking Sector

Abstract

Nowadays, banking industry is generating huge amount of data. Previously, most banks have failed to utilize this data. However, nowadays, banks have starts using this data to reach their main objectives of marketing. By using this data, many secrets can be revealed like money movements, thefts, disasters. This paper aims to find out how big data analytics can be used in banking sector to find out spending patterns of customer, sentiment and feedback analysis etc.