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Best practices in big data analytics

To be successful, providers must develop a deep understanding of customer needs and behaviors and the ability to engage with customers using technology. In this context, customer data is paramount to effective product development and delivery. However, while there are emerging opportunities, there are also challenges around collecting, maintaining, and analyzing customer data. Organizations cannot always easily adopt best practices. Moreover, delivering financial services responsibly means adhering to practices that safeguard customers’ privacy and security. While the space itself is new and evolving, best practices around big data analytics are emerging. In this snapshot by Maha Khan, the use of big data analytics to improve product design is discussed.

FiDA Partnership
The Mastercard Foundation Partnership for Finance in a Digital Africa (the “Partnership”) is an initiative of the Foundation’s Financial Inclusion Program. The Partnership catalyzes knowledge and insights to promote meaningful financial inclusion in an increasingly digital world. Led and hosted by Caribou Digital, the Partnership works closely with leading organizations and companies across the digital finance space. By aggregating and synthesizing knowledge, conducting research to address key gaps, and identifying implications for the diverse actors working in the space, the Partnership strives to inform decisions with facts, and to accelerate meaningful financial inclusion for people across sub-Saharan Africa.

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