Application of Big Data in the Banking Sector of Kazakhstan

Abstract

With the development of science and technology, the production of various data has
begun to increase dramatically. While our use of the Internet has become more frequent, we have
also left behind our various data in the process of using the Internet. Now the unit used to record
these data has become a large unit of measurements such as terabytes or even exabytes. There are
so many contents available for browsing on the Internet, which has benefited thousands of social
media users. At the same time, we have quickly left a huge amount of data in the interaction with
various machines and sensors. People call this kind of massive and quickly generated data-big
data. With the help of all kinds of enterprises, public institutions, and scientists who hope that
these data can better reflect its value, scientific research work on big data is increasing day by day.
More up-to-date research shows that 90% of the data currently generated on a global scale was
generated in the last two years, which is a huge amount. Big data analysis can make it easier for
us to make personalized profit analysis, instead of general assumptions and averages. Predict the
behavior of consumers and sell the right products to the right consumers, predict the spread and
flow direction of diseases to achieve real disease prevention, and conduct more accurate predictive
analysis of the financial market to bring more users benefits, forecasting and analyzing weather
conditions can all reflect the advantages that can be obtained more conveniently by analyzing big
data. In this regard, the view that the analysis of big data can get more benefits has begun to be
widely recognized in many fields such as marketing, healthcare, banking, insurance, and public
services. And the banking industry is the best industry that contains this massive amount of data.
It is obvious that opening up the use of big data can get more rewards for the banking industry. In
addition to the definition of big data, the research paper will also discuss the connection between
the banking industry and big data and the problems that the industry will generate and face in
the application of big data.