The value of Big Data to the retail financial services industry is estimated to reach more than £6 billion over the next few years, which means big business for the industry. In order to ‘harness’ this potential, banks must recognize that they are sitting on a vast amount of information which – if it can be easily accessed and cost-effectively managed, … [Read more...] about Big Data in Retail Financial Services
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Rabobank Learned Valuable Big Data Lessons Thanks to Proof of Concepts
Rabobank started with big data in March 2011. After they named the big data trend one of 10 most important trends in their IBA ICT Trends prediction. In the prediction of 2013 trends, the big data trend was positioned at number 6 of ICT trends. As part of practice what you preach, the Rabobank started with developing a big data strategy in July 2011. They created a list of 67 … [Read more...] about Rabobank Learned Valuable Big Data Lessons Thanks to Proof of Concepts
How to Define Big Data On Your Balance Sheet
In the old days IT was about saving money, while Big Data is about making money. If Big Data is about making money, it is about creating value and value should be placed on the balance sheet as an asset. A recent study by SAS showed that around 20% of the large UK companies are already assigning financial value to their data on the balance sheet of the company, so more … [Read more...] about How to Define Big Data On Your Balance Sheet
