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Unit – 34 : Role of Technology Upgradation and its Impact on Banks
Data Warehouse: Data from heterogeneous sources is stored to generate critical information for decision support systems. The main characteristics of the data stored in a Data Warehouse are:
It is Subject-Oriented
It is integrated, and there are no inconsistencies
The data in a Data Warehouse is non-volatile
It is time variant
Data Warehouse can be established even across multiple computer platforms as long as the transaction details are made available to the data warehouse in standardized formats.
Data Mining is a technique to reveal the strategic information hidden in Data Warehouse(s). It helps in exposing the patterns that are critical to business and provide an advantage through insight and knowledge of:
1. Sound predictions of customer behavior
2. Highly targeted market focus
3. Maximized operational effectiveness
4. Optimal return on Investment.
Establishment of Data Warehouse : Vasudevan Committee
Data Mining techniques can be applied in Predicting future trends based on information available
Credit Risk Analysis
Analyzing demographic information about customers
Banks can use a corporate website for
a. Dissemination of information
b. Financial Advice
c. To highlight non-banking activities
d. A node for commerce
e. Selling financial products
f. Gateway to the internet
g. Account Services
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