top ten big data trends in finance

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

10

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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