Evolution and Applications of Quantum Computing

10Machine Learning Approach in the Indian Service Industry: A Case Study on Indian Banks

Pragati Priyadarshinee

Chaitanya Bharathi Institute of Technology, Hyderabad, India

Abstract

Banks or any other organizations find it more profitable to have long term customers rather than short term customers. Banking sector is one of the most reputed Service Industry in India. In banks, long term customers profit them by depositing their money for a longer period of time, and hence increasing the bank’s revenue through interests. Hunting for new customers and putting efforts towards them to make them stay, is more expensive than convincing an existing customer to opt for term deposits. With the introduction of machine learning algorithms for data processing, the efforts put towards campaigning can be pin pointed towards customers who show more probability of success in the sales. Such ease towards successful campaigns will also leave the bank with more resources and time for the development of other aspects of their business.

Keywords: Machine learning, banks, data processing, service industry

10.1 Introduction

Requirement specification is highly technical which explains about the software that has been used in the development process. This needs to be specified very accurately. A beginning step of requirement analysis is the requirement specification part. It provides a listing of software systems that are required for the proper functioning of the project. It includes functional aspects, ...