Big Data Analytics for Financial Decision Making in Malaysia
DOI:
https://doi.org/10.47604/ajcet.2811Abstract
Purpose: To aim of the study was to analyze the big data analytics for financial decision making in Malaysia.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: Big Data Analytics (BDA) significantly enhances financial decision-making in Malaysia by extracting valuable insights from large datasets. It helps improve risk management, customer segmentation, and operational efficiency for financial institutions. BDA enables predictive analysis of market behavior, supports personalized financial services, and enhances fraud detection capabilities. Despite its benefits, challenges like data privacy issues and the need for skilled data professionals persist.
Unique Contribution to Theory, Practice and Policy: Diffusion of innovations theory, technology acceptance model (TAM) & network externalities theory may be used to anchor future studies on big data analytics for financial decision making in Malaysia. Prioritize investments in scalable and secure data infrastructure to support the deployment and integration of BDA technologies across financial institutions. This includes upgrading data storage systems, enhancing data processing capabilities, and implementing robust data integration frameworks. Develop and enforce clear regulatory frameworks that govern the ethical use of BDA in financial decision-making. Regulatory guidelines should address data privacy, security standards, transparency in algorithmic processes, and consumer rights protection.
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