Indian Journal of Science and Technology

Abstract

Background/ Objectives: Big Data are said to be an extremely huge data set that has to be analyzed, handled, managed and validated through a typical data management tools. Banks are one of the financial services industries that handles enormous amount of transaction data that has been managed, scrutinized and utilized for the benefit of banks as well as the customers. Hence this research paper analyzed how big data are managed in Indian commercial banks, the factors that have a greater impact on banks in handling big data was studied and examined how analytics creates value for the business. Method/Statistical Analysis: Secondary data was collected from various resources such as articles, journals and websites. The factors such as big data management, risk management, fraud detection, customer segmentation and business value of banking industries are studied. A Conceptual framework has been developed to highlight the factors that have a higher impact on big data management in banking industry.Findings: From the study it is analyzed that big data analytics has a driven a prominent change in the business value of banks and the factors having an influence on business value is highlighted.Application/Improvements: Banks need to revamp their software architecture for managing the big data and adopt the new technologies which in turn increases the business value of the organization.
Keywords: Big Data Management, Business Value, Commercial Banks,Customer Segmentation, Fraud Detection, Risk Management