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2. SBI is using Big Data to handle defaults

3. 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. It’s 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.

4. 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.

5. 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.

6. 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. Don’t
miss the chance and enrol ASAP.
We, at Madrid Software Training Solutions provides complete
practical Big Data Hadoop Training in Delhi.

7. Contact Us:-
Madrid Software Training Solution
Plot No.262, First Floor, Near ITDC, In Front Of Satnam
Farm, Westend Marg, Behind Saket Metro Station, Saket,
New Delhi - 110030
+91 - 9560785589
info@madridsoftwaretrainings.com