role of big data in financial sector
TRANSCRIPT
Role of Big Data in Financial Sector
• Between the year 1986 to 2007, the digital storage amplified by 23% annually
• This gives self-knowledge to each enterprise and with such knowledge comes the power of prediction.
Gives self-knowledge to each enterprise
How does it help?
Understand pattern of customer experience and conversion rates
Generate revenue in future
That’s an amazing thing isn’t it?
“There i s a B IG data revo lut ion ” Professor Gary King Weatherhead University
BIG Data = Fate of payment sectorWith the World W ide Web becoming home to transactions the payment sector is undergoing its most critical transition- the revolution of being driven by data
BIG Data in Financial Sector
Integral part of the security
dimension
Copious data can give out
meaningful financial insights
Currently, Big Data is sporadically utilized in the financial sector
Why?
Data Delivery is HugeOnce an intelligent system is setup
Time and space gaps in transactions would disappear
Possible to drive payment anytime, anywhere
Personalized communication would happen
Agile decision making process is implemented
Stronger security wallso combat a multitude of payment risks and
fraud
Highly developed machineso a database of encompassing every transaction detailo extract value from the spectrum of data
The Evolved species of the
financial sector
What are the requirements?
That’s not all, feel free to share this information
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