Private Data

A large number of organisations seek to leverage data analytics to make crucial business decisions. As organisations become customer-centric, they utilise insights from data to enhance customer experience while also optimising their daily processes.

Let’s listen to Anand to understand what data in the banking, telecom and HR domains looks like and how it helps companies in making crucial decisions.

So, private data has some security and privacy issues and is not publicly available. You learnt about the use of data in the bankingtelecom and human resources sectors.

  • Banking data: Banks use data to make credit-related decisions. This data is highly sensitive, as it contains customer transaction details, account details, etc. Security of such data is of topmost importance. Banks can use such data to predict which customer is likely to take a loan in the near future or which customers are interested in investing in term deposits, etc. With this help of such data, banks can also identify which customers are likely to default on their loans.
  • Telecom data: Telecom companies use data to optimise plans for customers and predict customer churn. Telecom data can be used to optimise the coverage area based on the customers’ calls data and their call performances. 
  • HR data: HR data analytics helps identify and predict employee behaviour. 

Let’s now take a look at the applications of data analytics in retail and media.

In this video, you learnt the applications of data in the media and retail industries.

  • Retail data: Retail data analytics helps drive decisions such as product purchasing, pricing and stocking.
  • Media data: The media industry uses data extensively to target viewers. Advertisers use data to identify the best avenues for targeting customers, while journalists use data visualisation to gather relevant information.

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