Big Data Analytics and the Discovery of the Hidden Data Treasure From Savings Banks in Germany

The German banking sector is undergoing a massive transformation phase due to increasing digitalization. This challenge is enormously influenced by demographic change, the low-interest phase, technological progress as well as supervision and regulation. As a result, banks in Germany are forced to deal with strategies for customer centricity. In this context, Big Data analytics can be seen as a useful tool to better understand customers, e.g. by predicting product affinities, purchase probabilities or distribution channel preferences. The consolidated view of Big Data Analytics and Customer Centricity is already considered in the scientific literature. The studies on the combination of Big Data Analytics and the German banking sector, on the other hand, are rudimentary so far. The main purpose of this research is to answer the following research questions: [I: “Does Big Data Analytics improve the quality of advice (measured by the principles of client advisory services) from an advisor’s perspective and does it have an influence on customer loyalty?”] and [II: To what extent can Big Data Analytics make a positive contribution to the situation of banks in the age of digitalization?”]. To answer the research questions, the results of a survey of banking experts (N = 43) form the backbone of this empirical research. The findings of this paper can be of benefit to researchers and practitioners alike, in order to make the potential of big data analytics recognizable and usable for banks in the context of customer centricity.

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Human Resources Development for the Use of Big Data Analytics in the Customer Business of German Banks

Giebe¹,

Menrad²

2023

Handbook of Research on Driving Socioeconomic Development With Big Data

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Big data analytics (BDA) can be seen as a useful tool to gain valuable insights into the mindset and behaviour of potential and current customers. In banking, too, BDA is now considered a key factor in better understanding customers along their customer journey. This can be achieved with the prediction of product affinities, purchase probabilities, or sales channel preferences. This article deals with the question of which aspects of human resource development should be applied in the transfer of knowledge on the use of BDA the customer business of German banks in order to ensure successful implementation. In order to be able to answer the research question, the results of standardised interviews with bank experts (N=43) in Germany form the backbone of this study. This paper summarizzes the findings of the quantitative research. The results of this paper can be useful for practitioners and researchers in order to make the potential of personnel development measures in the context of BDA in the banking industry recognizable and usable.

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Big Data Analytics and the Discovery of the Hidden Data Treasure From Savings Banks in Germany

Cited by 3 publications

References 25 publications

Quo vadis – Social Media. Eine Analyse der Nutzung von Social Media am Beispiel von Facebook bei den Sparkassen in Deutschland

Quo vadis – Social Media. Eine Analyse der Nutzung von Social Media am Beispiel von Facebook bei den Sparkassen in Deutschland

Big Data Analytics as an elementary Customer Loyalty Instrument for German banks – an empirical approach from a banker’s perspective

Human Resources Development for the Use of Big Data Analytics in the Customer Business of German Banks

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