Tag Archive for financial industry

How Small Startups Are Monetizing Big Data

Money!

by Angela Guess Brian T. Horowitz of Dell’s blog, Tech Page One recently wrote, “Startups have plenty of opportunities to use big data to make money, and small businesses are trying to keep pace with larger enterprises in this space. Startups leveraging big data include PlaceIQ, which offers a data-driven mobile advertising platform to identify…

Why are Banks Struggling with Big Data?

Piggy Bank

by Angela Guess Michael Flynn of BankTech reports, “In a recent Said Business School study, 63% of banks recognized proficiency in big data as a competitive advantage. However, 91% indicated that they lack key skills necessary to execute more effectively, and only 3% reported that their organizations had deployed big data initiatives on a continuous…

How Banks Are Improving Customer Service with Big Data

IOU in a piggy bank

by Angela Guess Likhit Wagle of IBM recently wrote in Forbes, “Although 80 percent of CEOs believe they offer customers superior service, only 8 percent of their customers agree. Banks and financial services firms cannot afford to have such a discrepancy. With today’s hyper competition, market volatility, and scramble to return to pre-recession profit margins, the…

Collibra Releases New Data Governance Solution for Financial Industry

col

by Angela Guess Compliance Week reports, “Collibra, a provider of automated data management processes, has released an advanced product suite to help large, complex financial institutions directly address some of their most challenging regulatory compliance and data reliability challenges. The Financial Services Suite works seamlessly with existing enterprise data solutions and combines a host of advanced features…

Expanding the Prominence of Data Governance

Chicken eggs in nest

by Angela Guess Nicholas Hamilton of Waters Technology reports, “In the food industry, systems of control are so sophisticated that if a customer complains they feel unwell after eating an egg mayonnaise sandwich, in many cases the manager of the deli will not only remove all similar products from the shelves, but will also be able…

FIBO Summit Opening Remarks by EDMC Managing Director Mike Atkin

[Editor’s Note: As our own Jennifer Zaino recently reported, the Enterprise Data Management (EDM) Council, a not-for-profit trade association dedicated to addressing the practical business strategies and technical implementation realities of enterprise data management held a two day FIBO Technology Summit in conjunction with MediaBistro’s Semantic Technology & Business (SemTechBiz) Conference, June 7th and 8th…

FIBO Technology Summit At SemTechBiz: Financial Industry And Sem Tech Leaders Discuss Ontology Evaluation Tools, FLORA-2's Potential, And More

Last week’s Semantic Technology & Business Conference played host to the FIBO (Financial Business Industry Ontology) Technology Summit. The event, which saw some 60 conference participants from the semantic web, financial industry and other sectors, as well as academia, was led by David S. Newman, SVP & Strategic Planning Manager Enterprise Architecture, at Wells Fargo…

Banks Cashing In With Data Mining

Stairs of Escape

by Angela Guess Mindy Powers recently wrote an article for Forbes stating, “Across industries, organizations are collecting and using large sets of data to get a leg up on the competition. One industry that has been particularly aggressive at harnessing the power of data is the banking business. And it’s no wonder. In 2009, the…