How big data can provide usb with a strategic advantage

Assignment Help Management Theories

Reference no: EM133419193

Create a Competitive Advantage in the Banking Industry

United Savings Bank (USB) is a large bank with branches spanning the United States. They are already collecting information on their customers in the following systems:

Core Banking System
Online Banking
Lending System (Auto/Personal Loans)
Credit Card System
Mortgage Lending System
Insurance Policy System
Financial Investment System

They are interested in understanding how they can leverage this data, in addition to data gathered from other potential sources, to provide a competitive advantage in their market.

You have been asked to present to the board a discussion on how big data can provide USB with a strategic advantage.

Part 1: Environmental Analysis

The banking industry is impacted by changes in its external environment from political, economic, social, technological, environmental, and legal factors. These may not be controlled directly by the companies in the industry, but the companies nevertheless might be forced to alter their models, pricing, revenue, and cost structures, etc. in response to changing conditions. Knowledge of external environmental trends can help predict opportunities and risks for banking products.

Identify some of the questions you might have about the overall industry trends (political, economic, social, technological, environmental, and legal, or others). You might include questions such as, "What affects demand for new car loans?" or, "Who is likely to seek a mortgage in the next five years?" or "How can we protect ourselves from fraud?" for instance. Identify at least one question for each of the environmental factors (political, economic, social, technological, environmental, and legal).

Part 2: Existing Data and Data Gaps

Envision a hypothetical customer who uses the different products identified above (banking, auto loans, credit cards, mortgage, insurance, and investment products).

Identify what information each of the data collection systems shown above might contain on the customer.
Identify any additional information you might want on individual customers that could help you answer the questions you identified in Part 1.
Create a one-page write-up explaining what information you likely have; what data you might need, and how this data might be used to generate a competitive advantage.

Reference no: EM133419193

Questions Cloud

What are the effective integrated marketing campaigns : What are 2 of the most innovative and effective integrated marketing campaigns you have seen in recent years? Explain.

What theoretical perspective will you use to guide : What theoretical perspective will you use to guide your study, and why? Explain at least two hypotheses you have about the effect of TV on grades.

What factors would he/she consider in deciding whether : What factors would he/she consider in deciding whether to sue for specific performance or money damages?

Do you believe that social justice is portrayed within : Do you believe that social justice is portrayed within your community? Why or why not? What can be improved, if anything? If you have witnessed an example

How big data can provide usb with a strategic advantage : Create a one-page write-up explaining what information you likely have; what data you might need, and how this data might be used to generate a competitive

Identify one sustainable development goal : Identify one Sustainable Development Goal that the organization is addressing through their Corporate Social Responsibility.

Consequences for your organization or an organization : Identify some limits to growth by social, environmental, and economic entities and discuss their consequences for your organization or an organization

Explain three reasons as to why efforts to explain social : Explain three reasons as to why efforts to explain social behavior using social sciences are different from efforts to explain behavior in the natural world

Competencies are behaviors tied to job : Remember that competencies are behaviors tied to a job that are required to make someone successful in that role.

User Account

All Pages