Page 41 - BANKING FINANCE APRIL 2017

ARTICLE

DEPLOYMENT

OF BIG DATA

ANALYTICS IN

BANKING

G rowth of Information Technology has brought purpose. Otherwise the whole data generated will become
into fore a new challenge or puzzle that is called
an overload to the processing system and to the
as Data Explosion. To suggest the magnitude of
Organisation it is related to.
data that is churned out in this technology era,
Banking is not an exception to the above because it is hav-
Shri G. Padmanabhan, ED of RBI in one of his speech had
ing the huge customer data base and the related transac-
said that WalMart, a retail giant, handles more than 1m
tions conducted by the customers. And in a highly competi-
customer transactions every hour, feeding databases esti-
tive environment where banks are placed, success comes
mated at more than 2.5 petabytes. Yes, the internet scale
from the ability to convert captured data, analyse the data
of data has galloped from terabytes to petabytes to
and convert it to valuable information to aid decision mak-
zettabytes.
ing. The following table will give a rough idea of the data
explosion that has happened in the banking arena in the
This throws sight into the reality that vast amount of digital
area of transaction data.
information is produced in the world which is expanding at
a rapid pace. Only if this huge data is processed, organised,
structured and converted into information it serves any

About the author

Dinesh P V
Chief Manager (Faculty)
State Bank Institute of Information and
Communication Management\, Hyderabad

BANKING FINANCE | APRIL | 2017 | 41

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