Tata Consultancy Services on Thursday launched the Enterprise Data Lake (EDL) on Amazon Web Services for advanced data analytics including consumer behaviour study.
The online service of TCS will provide fast data and data-driven intelligence to the banking and financial sector and push them to become more customer-centric rather than product-centric entities. Reportedly, it will also analyse consumer behaviour, needs and preferences and deliver contextual communications, relevant proposition and enhance customer-centric models.
The technological advancement is giving access to large volume of data to banking and financial institutions from multiple touch points in the value chain. This data can help banks deliver a superior customer experience, but it usually remains largely unusable without the capability to analyse, collate and structure it. The new service will function as a single data store to house all kinds of data including structured, semi-structured and unstructured data in its native format.
“TCS’ technical expertise and the global accessible EDL framework and solution architecture delivered through the secure Amazon Web Services, will allow customers to benefit from accelerated enterprise-wide transformation and business agility,” Raman Venkatraman, vice president and global head of the Alliance and Technology Unit at TCS said in press release.
By leveraging Amazon Web Services based on behaviour, needs and sentiments, the Enterprise Data Lake service identifies historical and trending patterns across customer segments. It then delivers real-time contextual communications, and a consistent experience to enhance customer-centric business processes and service models.
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It will also lower the cost of data management and operational infrastructure and will further enhance the performance of industries.