Shift in consumer behavioural patterns affecting banks’ Big Data usage
Banks will need to better direct the appropriate promotions, deals or product options to customers in line with their past habits, if they are to turn an average customer into a loyal one.
With the concept of Big Data gaining in popularity and advocacy as the banking industry edges further into the tech-savvy world of today, the border between the real world and the virtual world is starting to blur. Banks increasingly seek to make use of Big Data and decision analytics to create more valuable customer engagement, in an attempt to outperform their peers and gain a competitive edge in the market.
To better understand how Big Data impacts banking today, one must be able to identify the shift in consumer behavioural patterns. Younger, mobile customers have shorter attention…
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, Customer Centricity
, Data & Analytics
, Data Management
, FSI Customer Relationship Management
, Technology & Operations
Keywords: Big Data
, Customer Experience