Abstract
As a result of the competitive nature of financial services, this industry is positioned to
leverage big data to gain a competitive advantage. The financial services industry, in
South Africa and in emerging markets, has been known not to leverage big data
optimally. Creating personalized customer relationships through big data has been
found to be a source of competitive advantage. This study aims to identify the extent
to which big data is used in a financial institution. This will be done from a marketing
perspective, using a model developed by Byrom, Bennison, Hernandez and Hooper
(2001, p.336). Qualitative research was conducted, including in-depth personal
interviews with marketers in the financial services industry. The Morse and Field
approach was used for data analysis. Findings indicated that although big data was
being utilized, it was not optimally exploited. The study identified gaps in the usage of
big data for marketing decision making.