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Decision-Making Model

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Today, every facet of our lives such as eating habits, fitness, earning, spending, travel, payment, and even our way of interaction is influenced by Big data. So, to harness success in this era, every organization is trying to shift towards the large volume and high-velocity decision-making, in accordance to make new products, enhance existing features, manage financial transactions, or to fight fraudulent activities. With technology revolution, consumer-behavior changes, and increase in financial crimes there is an urgent need to transform process in payments industry. With 165 million active customers as of August 2015, and ranked amongst top 5 payment companies, PayPal has incorporated the concept of Big data, by controlling petabytes …show more content…

PayPal, continuously comprehend its customers information and transactions from website and mobile app, to understand customers ideology towards the product and calculate ways to prevent difficulties, if faced. This continuous effort by PayPal, improves customers experience towards each financial transaction and its value-added services. With more precise customer information, such as financial transaction, locations, preferences and transactions, amassed from sources: browsing history, surveys, social media and blogs, PayPal predicts specific offers, creates unique customer–vendor relation, direct customers through right channel at the right time, and evaluate customer thoughts. PayPal with help of graph processing, visually investigate trends for marketers and with use of natural language processing algorithms process consumer’s layman thoughts to do predictive and sentimental analysis. However, this predictive analysis has been extremely marked as controversial, as it inflicts problem to customer privacy. Whereas, most organizations think that it is a bitter truth of this online-service age. Therefore, the convenience created by these hardworking organization to provide smooth transactions and better products to customers, we need to except the bitter truth of soliciting our privacy. Data analysis and predictive modeling with all its scope, has already

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