How European banks are implementing Big Data Analytics: applications, tools and opportunities

Abstract

The objective of this research paper is to analyze how Indian commercial banks handle big data, which refers to an extremely large data set that requires analysis, management, and validation through traditional data management tools. Purpose: Banks are one of the financial services industries that deal with a vast amount of transaction data, which must be managed, scrutinized, and utilized for the benefit of both the bank and its customers. This study will examine the factors that have a greater impact on banks when handling big data and how analytics can create value for the business.Research methods: Secondary data was collected from various sources such as articles, journals, and websites. The study focuses on big data management, risk management, fraud detection, customer segmentation, and the business value of banking industries. A conceptual framework has been developed to highlight the factors that have a higher impact on big data management in the banking industry. Findings: The findings indicate that big data analytics has a significant impact on the business value of banks, and the factors influencing business value have been identified. Conclusion: By utilizing big data and embracing emerging technologies, companies can enhance the worth of their organization.