by Angela Guess
SunGard has put out a list of ten trends that are shaping Big Data programs across the financial industry. The list begins: “(1) Larger market data sets containing historical data over longer time periods and increased granularity are required to feed predictive models, forecasts and trading impacts throughout the day. (2) New regulatory and compliance requirements are placing greater emphasis on governance and risk reporting, driving the need for deeper and more transparent analyses across global organizations. (3) Financial institutions are ramping up their enterprise risk management frameworks, which rely on master data management strategies to help improve enterprise transparency, auditability and executive oversight of risk.”
It continues, “(4) Financial services companies are looking to leverage large amounts of consumer data across multiple service delivery channels (branch, Web, mobile) to support new predictive analysis models in discovering consumer behavior patterns and increase conversion rates. (5) In post-emergent markets like Brazil, China and India, economic and business growth opportunities are outpacing Europe and America as significant investments are made in local and cloud-based data infrastructures. (6) Advances in big data storage and processing frameworks will help financial services firms unlock the value of data in their operations departments in order to help reduce the cost of doing business and discover new arbitrage opportunities.”
Read the rest of the list here.
