The value of Big Data in finance is nothing short of huge. Or, rather, it is “Too Big to Ignore“As was written long ago by Phil Simon.[1]
A recent Capgemini study shows that more than 60% of the financial companies in North America are convinced that the Big Data analytics provide competitive advantages “vital” for the future of the banks, and more than 90% believe that the use of Big Data is able to re-establish in a short time the future leaders of the financial industry.
Nor it is hard to share that vision, if you think that with the Big Data “smart” banks may derive both a 360-degree view of each customer based on how he uses his mobile phone services or financial services online and information on the economic conditions and rates charged by competitors, very useful to package offers” tailor-made “for the market.
However, while theoretically almost all banks globally recognize the competitive advantage of big data, specifically the use of technological tools for big data analytics, as evidenced by another search, received the highest level of dissatisfaction precisely by banks.[2]
Which means, basically, that the vast majority of banks, although they are more than aware of the importance of the stakes, has just begun to explore the potential of Big Data or is in no hurry to go into the operational phase in this area.
Instead, on the other side of the fence, the view is completely different and much addicted to the use of Big Data economic […].
[Continue reading on Key4Biz, the entire article of Att. Giulia Arangüena for heading Fintech is at this link][1] We refer the title of the famous book by Phil Simon: Too big to ignore. The Business Case for Big Data”. [2] See also the first Watch report Digifin 2015 Institute of Competitiveness (ICOM), on 17.2.2015.
