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Posted: March 12th, 2023
DATA4000: Introduction to Business Analytics – Report Writing
4–5 minutes
Assignment Task
Your Task
Consider below information regarding the Santander Bank Polska S.A. data breach. Read the case study carefully and using the resources listed, together with your own research, complete:
Part A (Industry Report)
Part B (Application for data access presentation)
Brief
As an analyst within Santander Bank Polska S. A., you have been tasked with considering ways in which customer data can be used to further assist Santander Bank Polska S. A. with its marketing campaigns.
As a further task, you have been asked to consider how Santander Bank Polska S. A. could potentially assist other vendors interested in the credit card history of its customers.
Assessment Instructions
Part A: Industry Report (1800 words)
Based on your own independent research, you are required to evaluate the implications of the European legislation such as GDPR on Santander Bank Polska S. A. ’s proposed analytics project and overall business model.
Your report can be structured using the following headings:
Data Usability
Benefits and costs of the database to its stakeholders.
Descriptive, predictive and prescriptive applications of the data available and the data analytics software tools this would require.
Data Security and privacy
Data security, privacy and accuracy issues associated with the use of the database in the way proposed in the brief.
Ethical Considerations
The ethical considerations behind whether the customer has the option to opt in or opt out of having their data used and stored in the way proposed by the analytics brief
Other ethical issues of gathering, maintaining and using the data in the way proposed above.
Artificial Intelligence
How developments in AI intersects with data security, privacy and ethics, especially in light of your proposed analytics project.
Use the resources provided as well as your own research to assist with data collection and data privacy discussions
Part B: Presentation
Instructions:
You are required to prepare a presentation of 10 – 12 PowerPoint slides.
You are an analyst at Santander Bank Polska S. A.
You have identified a way in which you can use customer data to inform customers of bank offers and offers from other vendors, based on their credit card spending history.
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Although it’s Santander Bank Polska S. A.’s own data, regulators and legislators are becoming increasingly concerned about the way in which certain types of analytics projects can infringe on privacy, individual rights and potentially be in contravention of the GDPR and other legislation.
Create a presentation of approximately 5 minutes in which you discuss how Santander Bank Polska S. A. plans to use this data and the broad implications involved.
Discuss the issues below, and imagine you are communicating this presentation to government (regulators and / or legislators) as your primary audience.
Consider:
Why you want the data and the resulting benefits to your customer base;
How the data can be sourced ethically and securely;
How you will keep the data safe from the type of attack on customer data outlined in the article above.
How you will use your analytical findings in an ethical way.
!
Introduction
As an analyst at Santander Bank Polska S.A., I am presenting a plan for utilizing customer data to inform customers of bank offers and offers from other vendors based on their credit card spending history. However, as the European legislation such as GDPR has become more stringent on data privacy and security, I will discuss the implications of our proposed analytics project and how Santander Bank Polska S.A. plans to address these concerns.
Data Usability
Benefits and Costs
The proposed analytics project will benefit both the bank and its customers. write my research paper owl essayservice uk writings. analyzing credit card spending history, Santander Bank Polska S.A. can offer personalized recommendations to customers, improving their overall banking experience. In turn, this can lead to increased customer loyalty and satisfaction.
However, there are also costs associated with this project. The bank must invest in data analytics software tools and hire data analysts to carry out the project. There is also the cost of maintaining data privacy and security.
Descriptive, Predictive and Prescriptive Analytics
The data available can be used for descriptive analytics to gain insights into customer spending behavior. Predictive analytics can help forecast customer behavior and identify potential risks. Prescriptive analytics can suggest actions to optimize customer spending patterns.
Data Security and Privacy
Data Security
The bank must ensure data security to prevent data breaches and cyber-attacks. This can be achieved by implementing proper encryption, secure data storage, and access controls.
Data Privacy
The bank must also comply with GDPR regulations to protect the privacy of its customers. The bank must inform customers of the use of their data and provide the option to opt-in or opt-out. The bank must also ensure that the data is not used for any other purposes other than the ones specified.
Ethical Considerations
Opt-In or Opt-Out
It is crucial to provide customers with the option to opt-in or opt-out of the analytics project. This allows customers to have control over their data and privacy.
Gathering, Maintaining and Using Data
The bank must be transparent about how they gather, maintain and use data. This includes informing customers of the data collected, how it is used, and who has access to it. Additionally, the bank must ensure that the data is used in an ethical way.
Artificial Intelligence
The intersection of artificial intelligence with data security, privacy and ethics is critical. The bank must be aware of the risks associated with AI and ensure that data privacy and security are not compromised.
Application for Data Access Presentation
Why We Want the Data and the Resulting Benefits
Santander Bank Polska S.A. wants to use customer data to offer personalized recommendations to customers based on their credit card spending history. This will improve their overall banking experience and lead to increased customer loyalty and satisfaction.
How the Data Can Be Sourced Ethically and Securely
The bank will source the data ethically by informing customers of the use of their data and providing them with the option to opt-in or opt-out. The data will be secured by implementing proper encryption, secure data storage, and access controls.
How We Will Keep the Data Safe
The bank will keep the data safe by implementing proper security measures, including encryption, secure data storage, and access controls. The bank will also regularly test and audit its security measures to ensure that they are effective.
How We Will Use Our Analytical Findings Ethically
The bank will use its analytical findings ethically by ensuring that the data is used only for the purposes specified to the customers. The bank will also be transparent about how the data is used and ensure that it is not used in any unethical way.
Conclusion
Santander Bank Polska S.A. acknowledges the importance of data privacy and security and is committed to complying with GDPR regulations. The proposed analytics project will benefit both the bank and
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