Date post: | 28-Nov-2014 |
Category: |
Data & Analytics |
Upload: | promptcloud |
View: | 2,778 times |
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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
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