Discussion to support and maintain data warehouses. MasterCard has

Discussion 1:

Data warehouse, for any
company would be the greatest competitive strategy. Maintaining huge volumes of
data with current and historical data at one place would be the biggest
challenge and there will be a big need of an infrastructure to support and
maintain data warehouses. MasterCard has been one of the largest industrial
groups which are using this massive data warehouse. Using this data warehouse
strategies companies can expand their bases to customers. MasterCard to be
successful, it is important to increase the volume of transactions. For this
they have to expand their base of banking clients and partners in different
businesses by improving their level of service and products. Data warehouse
strategy will be a major role to achieve this competitive strategy in present world.
Along with credit cards MasterCard also offers debit cards, smart cards with
embedded chips, prepaid cards.  Offers
and products with variety of services help to increase the growth of individuals
who are using master card credit cards. Data warehouse planning began in mid-1990s.
Immediately the executive team from MasterCard Company grasped the concept of
data warehouse recommended by the IT division which is a potential game
changer. Typically for any recommendation the executives require a detailed
business case justification of IT investment recommendations. But differently
in this scenario, executives themselves recognized the data warehouse proposal
as a strategic move in a competitive edge for MasterCard. The improved response
time and implementation of sufficient redundancy and failover systems add as an
extra feature for MasterCard growth. Latest MasterCard’s big data center
addresses complex business challenges that will help many financial
institutions and merchants. Product, Operation and Management are considered as
few ways through which we can increase customer base with financial
organization.

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Any product which is
developed by considering the customer reviews and developing based on the
collected information improves the quality of the product. Adapting the new
innovations and implementing the life cycle management for developing new
products increases the success rate.

Any operations like
functioning of the organization, we need to analyze the data for both present
and future customers and have a strong relationship with the clients and
customers by providing new product services and support until they product get
stabilized and customers get satisfied. Collaboration between the executive
team, IT teams plays a major role in business operations. Marketing strategies
should satisfy the customer needs which helps to develop a long term
relationship with the company. Identifying those and communicating the benefits
through different media into the market will help the businesses to reach the
target.

 

Discussion 2:

Organizations maintain
their own database to store details of the company, employee and client
information and customer data. Every time they can’t leverage this huge amount
of data and transform those to increase the revenue or profits. So they use tools
which enable the business people to convert the data into useful information
which help their business. Business Intelligence (BI) tools are being used for
decades and they are continuously evolving with new innovations to meet the
expanding need of organizations of all sizes and businesses. There are
categorized into three types.

Guided analysis and
reporting- Previously these kind of reporting tools were limited to static
reports but now variety of options are included where users can select,
compare, filter, analyze and visualize the data. This tool includes Dashboards,
score cards, reports, spread sheet integrations.

Self-Service BI: To
perform ad hoc analysis of the data users make use of this tool. It will be
either a one-time-analysis or recurring analysis. Dual roles are performed by
the users of this tool- Information consumer and analytics producer. The tool
styles include Ad hoc reporting, Data discovery, data visualization and online
analytical processing.

Advanced analytics – This
tool includes predictive analysis and prescriptive, statistical modelling, big
data analytics and data mining. Data scientists use this advanced analytics for
data ingestion, integration and cleaning.

MasterCard use BI tools
for standard reporting to analyze day-to-day transactions, weekly, monthly and
compare those results to other parts of the world or similar organizations. MasterCard
can promote better use of BI and reporting tools to its clients either large or
small by analyzing the situations, focusing on goals, marketing strategies and
segments, defining objectives for better performance and efficiency. Both large
and small clients will be equally benefited by MasterCard analytics because BI
and reporting tools helps to store high amount of data which can be used in
identifying the current trends of the customers/users. The analytics helps the
clients to resolve most of their challenging issues and could improve the
quality of products and can offer variety of services. This analytics also
helps the large or small clients to determine the growth of the customers.