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Big Data in banking
Transcript of Big Data in banking
Current Development & Issues
Increased technology use
2.5 gbs pd or 2.7 ebs pa
volume + variety + velocity
reduced interest rates
unstable financial markets
Banks are facing:
real time transations and analysis
siloed legacy systems
analysis is critical to success
banks heavily regulated
open agile systems required
4 million jobs
no-one to fill roles
can use some data - not social media
need to convince customers
Silos of data
decentralised disconnected pockets
strategic asset and differentiator
Structured vs Unstructured
structured = 2 dimensional and historic
big data adds a further dimension