BIG DATA: DESCRIPTIVE ANALYTICS AND PERFORMANCE OF COMMERCIAL BANKS IN PORT HARCOURT, RIVERS STATE, NIGERIA

Abstract

This study surveyed Big data: Descriptive analytics and Performance of Commercial Banks in Rivers State, Nigeria. Big data analytics is the application of technological tool to solve Commercial Banks problems in real time. It is  the process of transforming raw data collected from multiple data sources into useful information, which describes the past. The effective description of the past in real time helps in understanding the customer’s expectation and economic growth. The objective of this study examined how descriptive analytics influence the performance of Commercial Banks in Rivers State, Nigeria. Two (2) research questions and two (2) hypotheses were employed for this study. The theoretical foundations anchored in Rough Set theory by Zdzislaw Pawlak, 1982. The research design was the cross-sectional survey. It entailed both descriptive and inferential statistics. The study population comprised of twenty one (21) commercial banks in Rivers State, Nigeria. A total of one hundred and sixty eight (168) respondents were computed from the study population using simple random sampling techniques that constitute the sample size of the study.  Data were collected from both Primary and secondary sources using structured questionnaire. The 4-point Likert scale was used to analyzed the univariate variables and simple linear regression analysis (parametric statistics) was used to analyzed the bivariate variables, available in Statistical Package for Social Sciences (SPSS version 23). The major findings revealed that big data: Descriptive analytics is a timely intervention tool for enhancing customers’ satisfaction and economic growth of Commercial Banks in Port Harcourt, Rivers State, Nigeria. The study concluded that big data: descriptive analytics influenced customers’ satisfaction and economic growth of commercial banks in Port Harcourt, Rivers State, Nigeria. The study therefore recommended that commercial banks should not only focus on acquiring customers they cannot manage in the name of profitability, rather they should implement big data: descriptive analytic to enable the commercial banks meet up customer’s expectation. Also, banks should be customers focus rather than focusing profit, causing negative impact on the customers and the economy (environment they operates) of the state.