Question 1A bank has started analyzing its volumes of data to detect unusual patterns and can now review transactions in real time. How would you best describe the potential value creation and impact on the bank's business by using data in this way? 1 pointThe bank is offering customized solutions.The bank is personalizing its offerings.The bank is performing predictive maintenance.The bank is preventing fraud.
Question
Question 1A bank has started analyzing its volumes of data to detect unusual patterns and can now review transactions in real time. How would you best describe the potential value creation and impact on the bank's business by using data in this way? 1 pointThe bank is offering customized solutions.The bank is personalizing its offerings.The bank is performing predictive maintenance.The bank is preventing fraud.
Solution
The best description of the potential value creation and impact on the bank's business by using data in this way is that the bank is preventing fraud. By analyzing volumes of data to detect unusual patterns and reviewing transactions in real time, the bank can identify and stop fraudulent activities before they cause significant damage. This not only saves the bank money, but also strengthens customer trust in the bank's security measures.
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QUESTION 13Just collecting and storing information isn't enough to produce real business value. Business analytics technologies are necessary to: A. Integrate data from internal and external sources. B. Extract valuable insights from the data. C. Determine business goals and objectives. D. Formulate eye-catching charts and graphs.
Which of the following describes the process of turning data points into useful information?answerMarket analysisData analyticsData-driven business decisionsRaw data collection
1) Where would a bank customer's account data be directly stored? 2) Which of the following manages the Bank database? 3) Which of the following would prevent unauthorized access to the Bank database? 4) How would a bank customer access their bank data?
Consider the company, service, or product you chose in this reflection:How could it use data to improve customer experience?What kinds of data would it need to collect? How could insights from that data solve a problem?
From a product development perspective, making decisions through data helps to identify ___________?Financial trendsMarket trendsEconomical trends
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