Big Data for a brand positioning. Big Data for winning elections. Big Data to know where does people go on vacation. If Big Data is used for everything, why don’t use it for planning a country’s economic strategy? The Banco Central de la República Argentina is thinking about using Big Data for the economic issues of the country.
Technology that analyses social media activity of clients, offer big clues to what they are planning. A practice that would go a long way in retaining customer loyalty is to have regular meetings and periodic financial reviews, especially when there is abnormal activity in the account.
A TNS survey shows that 43 per cent of UK consumers were either thinking of switching banks within the next year or had already made the decision to do so. Many highlighted that customer service concerns were to blame, 68 per cent said they were “just a number” to their bank.
The decisions companies make about how to use data can have an enormous impact on the success of modern enterprises, as well as on their image, their public perception, their competitors, and regulators. According to recent research, companies must recognize this new reality in which corporate reputations may be negatively impacted by decisions they make concerning data within their control.
Spanish people still talk about their banking sector with a great deal of distain.
