Bank of America has tapped into Hadoop technology to manage and analyse the large amounts of customer and transaction data that it generates. Big Data analytics and Hadoop are the heart of ‘BankAmeriDeals’ program, that provides cashback offers to bank’s credit and debit card holders. The bank collects transaction data from various propensity models and the bank learns which customers are likely to be benefited from refinancing their credit cards with a competitor. From this analysis, the bank can make offers to these customers, when they contact the bank, either through their branch office, call centre or any other medium. Big data analytics at Bank of America helps run the BankAmeriDeals program with cashback offers based on the past payments of customers for better customer retention who are likely to go to a competitor.
As of 12th August, 2016, Glassdoor listed 18 jobs related to Hadoop skill at Bank of America.
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