State Bank Of India is using Big Data Hadoop to handle defaults - Madrid Software Trainings

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MADRID SOFTWARE TRAINING
SOLUTIONSLeader in Emerging Technologies

• www.madridsoftwaretrainings.com

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SBI is using Big Data to handle defaults
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Hadoop is the new thing. Err. You already know
it?  Okay, But do you know that State bank of
India has also started using it? Yes. Its the
new entrance in the list of governmental
departments who have assimilated the
technology. State Bank of India (SBI) wanted to
solve key issues related to borrowers and
predicting defaults. For which it is working on a
project to take advantage of big data. As
countries largest repository of financial
information, SBI is looking at how Hadoop can be
used for analysis of this large pool of seemingly
unstructured data, can help understand how
standard borrowers could turn into defaulters
willingly. The analytical tool would study trends
coming from cash flows of customers and other
financial information.
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Between 2011and 2013, SBI identified about 660
wilful defaulters with loans aggregating to
Rs.5,700 crore. The securities and exchange board
of India (Sebi) is going to release some
guidelines on wilful defaulters soon. Finance
ministry also seeks list of wilful
defaulters. This is where data analytics is of
help." To help the bank in analysis of numbers
and trends, SBI has hired a whole team of
statisticians and economists. The bank currently
has data that is compressed into 170 terabytes
and daily transaction data of approximately 4TB
is added. Insiders believe that the bank's
storage requirement would run into petabytes (one
petabyte is equal to a thousand terabytes). With
over 20 crore savings accounts already opened,
and many more to be open in next one year, makes
SBI group, bank with the largest customer base
. SBI is also taking help of information
technology to develop an automated system that
would minimise the cost of zero-balance saving
accounts.
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Such a large pool of informative data, needs to
be analysed to work out further strategies. The
customer information is now being mined using
various analytical tools. It use different
products for data mining, predictive modelling,
social media analytics, and big data analytics to
generate and provide the best actionable
insights.  Similar tools are being used by social
media companies which have even bigger databases.
In fact, SBI has deployed software tools such as
Hadoop to help analyse unstructured databases,
obtained from social media pertaining to the
bank. These are 'listening' tools which are being
used to generate social media analytics,
including the customer sentiment. At the branch
level, analytics helps employees get one view of
the customers and upsell and cross-sell products.
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You know, Hadoop is being used in almost every
field and departments where there is a large
amount of data, to rule out various results.
Automotive, Transportation, and Logistics,
Defence, Intelligence and Security, Electronics,
Energy and Utilities, Finance, Food and
Agriculture, Government, Health Care, Pharma, and
Biotechnology, Materials and Mining, Media,
Advertising and Entertainment and Retail are for
count. You have this great opportunity to grow
and flourish by learning the technology which is
being used so widely. Dont miss the chance and
enrol ASAP. We, at Madrid Software Training
Solutions provides complete practical Big Data
Hadoop Training in Delhi.
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Thank you
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