Big Data trends in FinanceHow Big Data is proving invaluable to Finance

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I. Predictions via history

Market data sets with historical records used to feed predictive models, forecasts & assess trading impacts!

II. Transparent analyses

Deeper analyses on governance & risk reporting

Necessary for regulations & compliance standards

III. ERM scale-up

Makes risk management easy

Improved transparency, auditability & provisions against human lapses

Data from multiple data touch-points (branch, web, mobile) to supplement new predictive analysis

Focus on behavior patterns & increased conversion

IV. Consumer-centric data strategy

THIS IS WHERE BIG DATA IS ALSO USED

V. Exploring newer markets

Substantial big data investment & infrastructure in BRIC economies

Rising local & cloud-based data capacities

VI. Reducing cost of business

Employing advanced big data storage & process frameworks

Easing operations functionality to discover innovative trading opportunities

VII. Framework reconfiguration

Restructuring ETL processes to help manage large data siloes & large-scale data processing

ETLMore on

VIII. Improving credit risk models

Running analytics & enabling predictive analysis based on historical payment behavior

Predict & determine future risk

Provisioning priority collections

More on Predictive Analysis

Universal use of mobile applications & Internet-connected devices (tablets, smartphones) to collect trading information

Raising tech stack to battle data deluge

Frameworks to integrate structured & unstructured data equally

IX. Increasing data collection points

X. Impermeable data centers

Innovating self-secured algorithms to process

data

Ensuring data security to access control on &

minimize negative impact on existing systems

SOURCE: insideBIGDATA

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