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S. Korea’s Shinhan Bank to install big data-based decision-making center

 

South Korea’s Shinhan Bank executives would be digging into big data pool to make management decisions to respond more promptly to customer needs and enhance productivity.

The bank said on Monday it will set up within the next three months monitors in its executive conference room at its headquarters in central Seoul backed by computer system compiling and analyzing real-time data on 24 million customers and performance at 870 outlets.

The data center collects business related information by every five to 10 minutes from its sales outlets and display data on performance per product and number of customers by location, time, and even weather conditions. The machine also would advise the management on relocation of work force to up productivity.

The bank has benchmarked “business sphere” operated by American multinational consumer goods company Procter & Gamble Co. The consumer goods maker monitors business and market related indices based on data collected from over 4 billion customers from more than 80 countries on big screen displays installed at the business sphere. P&G’s new product release cycle was halved compared to that of its rivals under the operation of the business sphere.

This article was originally published on pulsenews.co.kr and can be viewed in full

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