Claims:We claim:
1) The system and method for effective customer feedback analysis in banking by using big data technology is comprising of the contents such as;
a. Any computing device with high definition;
b. Any open-source framework like Hadoop for data analysis which stored data on big data; and
c. The web application for effective customer feedback analysis in banking
2) The system claimed in claim 1 wherein, big data analytics can sift through the public data and gather all the mentions of the bank’s brand to be able to respond rapidly and adequately.
, Description:FIELD OF THE INVENTION
The present invention discloses the system and method for effective customer feedback analysis in banking by using big data technology. The invention is related to banking sector, which are now well developed due to upcoming technologies. Big data is one of the best technologies which can be effectively used for customer feedback analysis in banking.
BACKGROUND OF THE INVENTION
A systematic feedback process is all about enabling the customer to provide feedback and making sure the collected data is actionable towards improving banking solutions and meeting customer expectations.
Collecting customer feedback shows that banking system value their opinions. By asking customer for feedback, banking communicate that their opinion is important for banking system. Banking can involve them in shaping banking solution so they feel more attached to banking system. Listening to their voice helps banking system create stronger relations with them.
Feedback analysis involves identifying the need and frustrations of customers, so that businesses can improve customer satisfaction and reduce churn. It’s often done automatically, enabling companies to sort huge amounts of data from various channels in a timely and accurate way.
The present invention gives the help or method for effective customer feedback analysis.
The present invention discloses the system and method for effective customer feedback analysis in banking by using big data technology. The customer can leave feedback after dealing with the customer support center or through the feedback form, but they are much more likely to share their opinion through the social media. Big data tools can sift through this public data and gather all the mentions of the bank’s brand to be able to respond rapidly and adequately. When the customers see the bank hears and values their opinion and makes the improvements they demand – their loyalty and brand advocacy grow greatly.
Bank’s customer support centers will have a lot of inquiries and feedback generation on a regular basis. Even social media platforms serve as a sounding board for customer experiences today. Big data tools can aid in sifting through high volumes of data and respond to each of them adequately and swiftly. Customers who feel that their banks value their feedback promptly will remain loyal to the brand.
OBJECT OF THE INVENTION
The main object of the invention is, system and method for effective customer feedback analysis in banking by using big data technology.
Another object of the invention is, big data tools can sift through the public data and gather all the mentions of the bank’s brand to be able to respond rapidly and adequately.
Other object of the invention is, big data analytics analyses feedback from customer very efficiently and promptly.
SUMMARY OF THE INVENTION
The present invention discloses system and method for effective customer feedback analysis in banking by using big data technology. The customer can leave feedback after dealing with the customer support center or through the feedback form, but they are much more likely to share their opinion but they are much more likely to share their opinion through the social media. Big data tools used to sift through this public data and gather all the mentions of the bank’s brand to be able to respond rapidly and adequately.
BRIEF DESCRIPTION OF THE DRAWINGS
Fig 1 shows flowchart of the method and computer program for this invention.
DETAILED DESCRIPTION OF THE INVENTION
The present invention discloses the system and method for effective customer feedback analysis in banking by using big data technology.
Big data is the vast volume of structured or unstructured data that is readily available at our collective fingertips. These large data sets are analysed to reveal previously unknown patterns and provide insights into businesses, human behaviour, and more. Big data analysis is used for everything from financial services, to gauging someone’s productivity, to even monitoring the weather.
The key feature of big data is to analyse, understand and interpret it in order to give user a full picture as possible about the effective customer feedback analysis in banking.
The system and method for effective customer feedback analysis in banking by using big data technology is comprising of the contents such as;
Any computing device with high definition
The web application for effective customer feedback analysis in banking
Any open-source framework like Hadoop for data analysis which stored data on big data
Big data consists of five stages such as-
Data sources- web and social media, machines, Sensing, IoT
Content format – structured, semi-structured, unstructured data
Data stores – document oriented, column oriented, graph database, key value
Data Staging – cleaning, transform and normalization
Data processing – Batch and real time
The system and method for effective customer feedback analysis in banking by using big data technology is comprising of the steps are as;
Step 1) The web application of customer feedback analysis in banking is created
Step 2) Banking team member open the invention application
Step 3) With the help of big data analytics, banks can understand customer feedback based on the inputs received from different resources
Step 4) Banking team member would design effective customer feedback analysis in banking with data provided by big data analytics
Role of Big data in invention application is as:
The customer can leave feedback after dealing with the customer support center or through the feedback form, but they are much more likely to share their opinion through the social media. Here, big data analytics can sift through this public data and gather all the mentions of the bank’s brand to be able to respond rapidly and adequately. When the customers see the bank hears and values their opinion and makes the improvements they demand- their loyalty and brand advocacy grow greatly.
Bank’s customer support centers will have a lot of inquiries and feedback generation on a regular basis. Even social media platforms serve as a sounding board for customer experience today. Big data tools can aid in sifting through high volumes of data and respond to each of them adequately and swiftly. Customers who feel that their banks value their feedback promptly will remain loyal to the brand.