Tuesday, February 12, 2013

Big Data in Financial Service Industry

In order to get senior management's buy-in on Big Data, you will have to show them some use cases.

Let's start from the financial service industry including the banks and others.

From Oracle:

This Oracle White Paper briefly talks about Oracle Big Data technology and several use cases in the financial services industry.

Financial Services Data Management:Big Data Technology in Financial Services

From IBM:

IBM solutions for big data provides banks with an integrated and scalable set of cost-effective, high-performance tools that support the rapid ingestion of important customer data from a variety of sources and the fast analysis of large volumes of data at transactional, product or enterprise levels.

See the link from IBM website: Deriving Business Insight from Big Data in Banking

And White Paper: IBM Information Agenda for Banking - Financial Crisis and Integrated Risk Management for Financial Institutions

From IDC:

The document is not free. You will have to  pay US$1,000 to get it.

Big Data - Use Cases in Financial ServicesPrice: US $1,000

Author: Michael Versace

Insights Presentation
July, 2012  -  Doc # FIN236035
Number of Pages: 18
Abstract
Data is the currency of competition in financial service. The effective use of data and information is the foundation upon which firms compete. Services are wrapped around data to differentiate products and services. For example, knowing which customers represent the best credit revenue and profitability opportunity to a bank is a question that only data and analysis can answer.
As an extension, IDC Financial Insights believes that Big Data and business analytics can quickly deliver competitive advantage for those firms that effectively harness and leverage the trend.. In this IDC Financial Insights presentation, we describe some of the drivers behind big data with examples for how big data technologies are being applied against some demanding business imperatives in the financial markets today. The presentation concludes with Essential Questions and Guidance to practitioners.


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