Leveraging Analytical Capabilities Of Financial Services

Leveraging Analytical Capabilities in Financial Services Authors: 1. Sushil Gurav PGDBM - Finance (2014-16) Sydenham Institute of Management Studies (SIMSREE), Mumbai. +91 9969549955 2. Prajakta Ninale PGDM - Finance (2014-16) Welingkar Institute of Management Development Research (WeSchool), Mumbai. +91 9403757502 Big Data – How Big It Is Big Data embraces structured, semi-structured and unstructured information. It can be demographic or psychographic information about the customers, their opinions, product reviews etc gathered from variety of sources such as tweets, blogs, other social media content, technical devices like sensors and stream of data from mobile devices. Businesses have started using Big Data to get right information to identify right markets and right customers at the right time in order to make right strategic decisions. The Big Data market is estimated to grow to $32.1 bn by 2015 and $54.1 bn by 2017. According to the report â€Å"Be Careful or Big Data Could Bury Your Bank†, the world creates 2.5 quintillion bytes of data daily and last 2 years have contributed to almost 90% of the data which exists today. It empowers institutions to learn more, create more and do more using the data available with them. Relevance of Big Data for Financial Services Financial Services are of 4 types – Banking Service, Foreign Exchange Services, Investment Services and Insurance. The three key attributes of Big Data are – Volume, Variety and Velocity. This sectorShow MoreRelatedCognizant : Technology Innovation And A New Generation Of Employee Essay2044 Words   |  9 Pagesbusiness objectives leveraging the latest digital capabilities to produce sustainable competitive advantage. 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