Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    big data analytics in transporation
    Turning Data Into Decisions: How Analytics Improves Transportation Strategy
    3 Min Read
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: 10 Trends Shaping Big Data in Financial Services
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Mining > 10 Trends Shaping Big Data in Financial Services
AnalyticsBusiness IntelligenceData Mining

10 Trends Shaping Big Data in Financial Services

Brett Stupakevich
Brett Stupakevich
4 Min Read
SHARE

big data financial 150x150 photo (predictive analytics financial services big data advanced analytics )The world is flush with news around the concept of big data – the influx of data from the Internet, mobile devices, social media and other sources that con

big data financial 150x150 photo (predictive analytics financial services big data advanced analytics )The world is flush with news around the concept of big data – the influx of data from the Internet, mobile devices, social media and other sources that contains a gold mine of information for companies that are poised to find it.

Consider a new report from Capgemini that reveals that nine out of 10 business leaders believe data is now the fourth factor of production, as fundamental to business as land, labor and capital.

The use of big data has improved the performance of businesses on average by 26% and that impact will grow to 41% over the next three years, according to Capgemini’s study of 600 C-level and senior executives.

More Read

Blind (and Incompetent) Justice Thanks to Spreadsheet?
Big Data and Rise of Predictive Enterprise Solutions
How AI Software is Changing the Future of the Automotive Industry
The Big Data Industry in Detail: Biggest Players, Biggest Revenues and More [INFOGRAPHIC]
Oracle Hyperion Products Challenged by New Generation of Expectations

Two-thirds of the executives note in the study that they consider their organizations to be “data-driven,” meaning that data collection and analysis underpin their firms’ business strategies and day-to-day decision making. More than half of the respondents say management decisions that are based purely on intuition or experience are increasingly regarded as suspect. And 65% assert that more management decisions are based on “hard analytic information.” That figure rises to 73% for the financial services sector.

Indeed, financial services firms that use business analytics efficiently and effectively will thrive in the current uncertain and fluctuating markets, while those that do not are likely to flounder, according to a blog post from SunGard and IDC.

SunGard has identified 10 trends shaping big data initiatives across all segments of the financial services industry in 2012:

  1. Companies require larger market data sets and deeper granularity to feed predictive models, forecasts and trading throughout the day.
  2. New regulatory and compliance requirements are placing greater emphasis on governance and risk reporting, driving the need for deeper and more transparent analyses across global organizations.
  3. Financial institutions are ramping up their enterprise risk management frameworks to help improve enterprise transparency, auditability and executive oversight of risk.
  4. Financial services companies are looking to leverage large amounts of consumer data across multiple service delivery channels to uncover consumer behavior patterns and increase conversion rates.
  5. Emerging markets like Brazil, China and India are outpacing Europe and America as significant investments are made in local and cloud-based data infrastructures.
  6. Advances in big data technology will help financial services firms unlock the value of data in operations to help reduce costs and discover new revenue opportunities.
  7. Traditional data warehouse systems will need to be re-engineered with big data technologies to handle growing volumes of information.
  8. Predictive credit risk models that tap into large amounts of payment data are being adopted in consumer and commercial collections practices to help prioritize collections activities.
  9. Mobile applications, tablets and smartphones are creating greater pressure for company networks to consume, index and integrate structured and unstructured data from a variety of sources.
  10. Big data initiatives are driving increased demand for algorithms to process data, and emphasizing challenges around data security and access control as well as minimizing impact on existing systems.

Next steps:

  • Subscribe to our blog to stay up to date on the latest insights and trends in big data and data analytics.
  • See how Spotfire version 4.5 empowers users to discover actionable insights hidden in big data and unstructured information in our on-demand webcast, “What’s New with Spotfire 4.5.”

TAGGED:big data
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

big data analytics in transporation
Turning Data Into Decisions: How Analytics Improves Transportation Strategy
Analytics Big Data Exclusive
AI and fund manager software
AI And The Acceleration Of Information Flows From Fund Managers To Investors
Artificial Intelligence Exclusive
sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Prepare for the Big-Data Labor Shortfall

4 Min Read
data logging tech
Big DataExclusive

The Profound Impact Of Data Logging On International Logistics

6 Min Read

Using Big Data to Win and Influence Customers

6 Min Read
log management with big data
Big DataExclusive

Big Data Creates 4 Massive Benefits Of Automated Log Management

5 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?