10 Trends Driving Big Data in Financial Services

D0740980

    In terms of big data, the use of financial services sector has been slow. But as data growth becomes a challenge and the pressure to reduce operating costs is increasing, big data is also beginning to shape financial services.
    In this article said that business analytics are the key to achieving excellence in financial services, so that SunGard's Palmer provided 10 trends will driving big data in financial services, they are:
1. Larger Data Sets of Historical Data are Needed

2. Firms Face New Regulatory and Compliance Requirements

3. Increased Focus on Enterprise Risk Management

4. Desire to Leverage More Consumer Data Across Multiple Delivery Channels

5. Investment in Data Infrastructure in Post-Emergent Markets

6. Drive to Unlock the Value of Data in Operations Departments

7. Need to Re-engineer ETL to Accommodate Data Growth

8. Adoption of Predictive Credit Risk Models

9. Mobile Proliferation

10. Big Data is Driving Big Data

  These 10 trends are helping big data to achieve excellence in financial services, including increased granularity to feed predictive models, forecasts and trading impacts throughout the day, make new regulatory and compliance requirements to place greater emphasis on governance and risk reporting, driving the need for deeper and more transparent analyses across global organizations. And also mention that financial services companies need to use leverage large amounts of consumer data across multiple service delivery channels  to support new predictive analysis models in discovering consumer behavior patterns and increase conversion rates.

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