Federal Bank is using analytics to find where to open new ATMs and which ones need to shut down. IndusInd Bank’s is using it for customer analytics, fraud and risk analytics. DBS Bank is targeting the right products to the right customer using analytics. Axis Bank’s analytics team specialise in customer segmentation, need-based analysis and hyper-personalization of offerings. Yes Bank uses analytics for understanding customer behaviour.
Category: Big Data (page 2 of 6)
50% of Indian IT leaders see a permanent rise in the value of data as firms push for digital transformation, said a report by cloud data protection and management firm Druva. The report said that about 76% said that digital transformation plans have accelerated due to the pandemic, 42% reported an increase in VC attacks, malware (40%), phishing (35%), user error / accidental tampering or deletion (32%) and insider attack (31%).
Big Data Analytics solutions’ spending to reach $22.6 bn in 2020, with a growth of 12% over 2019 in Asia Pacific region, said research firm IDC. It expects big data tech and service-related revenues to grow with a 5-year CAGR of 15.6% between the year 2019 and 24. 74% of enterprises intend to invest in BDA solutions at the same or higher level. Banking and telecom lead in BDA consumption, spending together over $ 6.1bn.
LG Electronics had acquired more than 50% stake in US-based TV data analysis startup Alphonso for $80 mn. It aims to boost its software and service capabilities in the TV business to offer enhanced and customised services particularly to its North American customers by utilising Alphonso’s data, TV ad analytics and AI capabilities. Alphonso had shipped 90% smart TVs through which users could enjoy video content with an internet connection.
OYO Hotels & Homes, to enhance the employees’ skills and prepare them for future roles, launched the Data Science Academy in Sept. The programme curriculum, designed by in-house experts, had immersive sessions in data mining, dashboarding, statistical modelling, insights generation etc. The 60 hrs of learning modules included specific tools and tech on R, Python, SQL and Excel. The first batch was officially declared graduate on Dec 23.
CltS, hyperscale datacenter provider, was awarded the prestigious Golden Peacock Award for Eco-Innovation to became the World’s first datacenter to be awarded in the category. The jury selected CtrlS Datacenters, after having evaluated 234 firms on innovation, environment, health and safety, energy conservation, and impact on climate change. Instituted in 1991 by the Institute of Directors, India, the award is globally regarded as a Corporate Excellence benchmark.
A PMI, South Asia’s Playbook for Project Management in Data Science and AI Projects, the report said that 88 % of the firms have gaps in AI project management practices. The survey of 300 firms said that the failure rate of big data projects was a whopping 55 % and going by that rate firms will collectively waste $54 bn in 2023 and at least $11 bn of this amount can be directly attributed to poor AI project management practices.
Google’s new website called ‘Travel Insights with Google’ offers insights into tourism demand trends, booking trends, etc. The travel industry can analyse demand and leverage insights to boost businesses. Based on user search data, the website offers time-specific trends such as Destination Insights, revealing the top sources of demand for a destination and destinations within countries. Hotel Insights gives information on the properties of small and independent hotels.
Minister for IT and deputy CM, UP Dinesh Sharma said a new dedicated data centre policy was on the cards for the state to develop a 250 MW (IT power) data centre industry to attract an investment of Rs 20,000 cr. He said that more than 3,300 start-ups are operational in UP and a fund of Rs 1,000 cr has been set up by the govt with help from SIDBI. The state government will also set up IT parks in all 18 divisions of the state to promote IT and attract investment.