There is no better time than now to understand the importance and significance of Banking Research amidst COVID Pandemic. On top of that central bank’s questionable price ceiling of 6%-9% has put banking industry of Bangladesh in an unhealthy competition.
More than 70 banks are operating with the same platter to mass customers. So, what determines such competitive advantage. Who knows the insights? Still do not believe that; please follow the some points that R&D can do in Banking Industry.
1. Product Innovation
2. Service Quality Assessment
3. Product reengineering with collaboration of IT
4. KPI Analysis
5. Trend Analysis
6. Digital Banking Innovation
7. Mystery Shopping
8. Demographic Segmentation
9. Macroeconomic data analysis
10. Newspaper/Media tracking to understand demographics’ shopping behavior
11. Sector Analysis to understand which sector is most potential
and many more…
This is the age of big data and if we don’t harness insight from those data to provide informed and relevant decision, it will be our utter failure. Time is now, no more procrastination.