Application of Big Data in the Banking Sector of Kazakhstan

Gulmira Azretbergenova, Aziza Syzdykova

2023

Full text Open access: Gold Metadata (CSL-JSON)
DOI 10.32523/2079-620x-2020-4-132-140
Data confidence 70 medium
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Abstract

With the development of science and technology, the production of various data hasbegun to increase dramatically. While our use of the Internet has become more frequent, we havealso left behind our various data in the process of using the Internet. Now the unit used to recordthese data has become a large unit of measurements such as terabytes or even exabytes. There areso many contents available for browsing on the Internet, which has benefited thousands of socialmedia users. At the same time, we have quickly left a huge amount of data in the interaction withvarious machines and sensors. People call this kind of massive and quickly generated data-bigdata. With the help of all kinds of enterprises, public institutions, and scientists who hope thatthese data can better reflect its value, scientific research work on big data is increasing day by day.More up-to-date research shows that 90% of the data currently generated on a global scale wasgenerated in the last two years, which is a huge amount. Big data analysis can make it easier forus to make personalized profit analysis, instead of general assumptions and averages. Predict thebehavior of consumers and sell the right products to the right consumers, predict the spread andflow direction of diseases to achieve real disease prevention, and conduct more accurate predictiveanalysis of the financial market to bring more users benefits, forecasting and analyzing weatherconditions can all reflect the advantages that can be obtained more conveniently by analyzing bigdata. In this regard, the view that the analysis of big data can get more benefits has begun to bewidely recognized in many fields such as marketing, healthcare, banking, insurance, and publicservices. And the banking industry is the best industry that contains this massive amount of data.It is obvious that opening up the use of big data can get more rewards for the banking industry. Inaddition to the definition of big data, the research paper will also discuss the connection betweenthe banking industry and big data and the problems that the industry will generate and face inthe application of big data.