Big data mining market segmentation of ANZ Bank EFTPOS data
· 5 min read
In Australia, the big 4 banks receive large amounts of Electronic Funds Transfer at Point of Sale (EFTPOS) transaction data on a daily basis, but despite this, this information-rich data are not stored nor analysed. The fact that EFTPOS data is both very large and very messy makes it difficult for banks themselves to gain visibility of the characteristics of the stakeholders of the data.