Case Study for introduction to business analytics.

Words: 569
Pages: 3
Subject: Uncategorized

Case Study Part I: Scenario
United Savings Bank (USB) is a large bank with branches spanning the United States. They are already collecting information on their customers in the following systems.

Core Banking System
Online Banking
Lending System (Auto/Personal Loans)
Credit Card System
Mortgage Lending System
Insurance Policy System
Financial Investment System
They are interested in understanding how they can leverage this data, in addition to data gathered from other potential sources, to provide a competitive advantage in their market.

You have been asked to present to the board a discussion on how big data can provide USB with a strategic advantage.

The following is the necessary information to complete this lab assignment.

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Deliverables
The deliverable for this lab is a Microsoft Word document, including Parts 1 and 2 from the case study, which can be accessed via the 1.1.1: Business Analytics Readings and Resources link.

Required Software
This lab will use the following Lab Resources.

Virtual Lab Citrix (MS Word 2016 or 2019). If you have MS Word on your personal computer, it will work for this lab.
Use a personal copy of the software or access the Lab Resources located in the Course Resources page.

The following is the necessary information to complete this lab assignment.

Step 1: Lab Preparation
Resources for this lab are located in the 1.1.1: Business Analytics Readings and Resources link. There are three videos and one Word document that mirrors the steps for this lab.

Step 2: Complete Environmental Analysis
Part 1: Environmental Analysis

The banking industry is impacted by changes in its external environment from political, economic, social, technological, environmental, and legal factors. These may not be controlled directly by the companies in the industry, but the companies nevertheless might be forced to alter their models, pricing, revenue, and cost structures, and so forth in response to changing conditions. Knowledge of external environmental trends can help predict opportunities and risks for banking products.

Identify some of the questions you might have about the overall industry trends (political, economic, social, technological, environmental, legal, or others). You might include questions such as, “What affects demand for new car loans?” or, “Who is likely to seek a mortgage in the next 5 years?” or “How can we protect ourselves from fraud?” for instance. Identify at least one question for each of the environmental factors (political, economic, social, technological, environmental, and legal).
Step 3: Discussion Existing Data and Data Gaps
Part 2: Existing Data and Data Gaps

Envision a hypothetical customer who uses the different products identified above (banking, auto loans, credit cards, mortgage, insurance, and investment products).

Identify what information each of the data collection systems shown above might contain on the customer.
Identify any additional information you might want on individual customers that could help you answer the questions you identified in Part 1.
Step 4: Summarize Your Findings
Create a one page write-up explaining what information you likely have, what data you might need, and how this data might be used to generate a competitive advantage.

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