GASPRO International Journal of Eminent Scholars

ABSTRACT

The study was carried out to assess the extent to which big data is adopted to improve efficiency and customers experience in banking sector of Nigeria as a boost in the 21st century. The targeted population for the study comprised all the bankers in Nigeria. A stratified sampling technique was used in selecting 50 bankers from Akwa Ibom State, 50 bankers from Lagos State, and 50 Bankers from Abia State, each from 3 geographical zones in Nigeria (South South, South West, and South East respectively) and this gave a total sample size of 150 respondents. The instrument used for data collection was a structured questionnaire entitled “Big Data and Customer Experience in Banking Sector Questionnaire” (BDCEBSQ). Face and content validation of the instrument was carried out by an expert in test, measurement and evaluation and banking in order to ensure that the instrument has the accuracy, appropriateness and completeness for the study under consideration. The reliability coefficient obtained was 0.88 and this was high enough to justify the use of the research instrument. The researcher subjected the data generated for this study to appropriate statistical technique such as descriptive statistics to answer research questions. As regards the extent to which Big Data adoption improves operational efficiency in the banking sector of Nigeria the study showed that the highest percentage (24.00%) of the respondents identified with “Enhanced decision-making”, while the least percentage (16.00%) were identified with “Innovation and digital transformation”. For the extent to which Big Data analytics enhances customer experience and satisfaction in Nigerian banks, the highest percentage (16.00%) was recorded against “Personalization of Banking Services”, while the least percentage (8.00%) was recorded against “Service Innovation and Product Development”. The study came to the conclusion that adopting big data puts Nigerian banks in a position to adapt quickly to changing consumer demands and market competitiveness while promoting innovation in a range of financial services and products. One of the recommendation that banks should allocate resources to modern big data platforms and cloud-based solutions that can efficiently process large volumes of transactional and behavioral data in real time.