Big data analytics in the Indian banking sector: An empirical study

Abstract

Banking and financial institutions produce and trade massive sums of money each minute all around the globe. As a result, this industry is by definition data-intensive. The data in this industry is complex, and it fits under the Big Data banner, which is described as “a set of enormous, varied, and sophisticated data that is developing at an accelerating rate. “Big data analytics is the difficult method for analyzing huge and diverse data sets or big data to uncover information such as patterns and insights, unrevealed correlations, market dynamics, and consumer trends that can aid businesses in making educated decisions. Data analytics tools and approaches, in general, show how to analyze and interpret sets of data and draw conclusions from them to assist businesses in making intelligent business decisions. This study has been conducted to check the role played by Big Data Analytics in banking organizations.

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