What Does Big Data Mean For Banks? - InformationWeek
IoT
IoT
Comments
What Does Big Data Mean For Banks?
Threaded  |  Newest First  |  Oldest First
Laurianne
50%
50%
Laurianne,
User Rank: Author
8/6/2014 | 1:53:57 PM
Interesting perspective
Interesting perspective on the traditional relational database skills inside banking IT teams vs big data projects.
D. Henschen
50%
50%
D. Henschen,
User Rank: Author
8/6/2014 | 10:29:29 PM
What this jargon means is that they're using traditional databases
Lots of jargon here to explain that banks are pretty much sticking with relational databases and aren't doing a lot of experimentationw with big data platforms like Hadoop and relational databases. In an industry that's dealing with managing money and executing transactions, I don't think that should be a surprise. In some ways it's even reassuring, but banks and other financial institutions could certainly be experiementing with analysis of social data and customer comments about their service experiences. Brand perception and what not. Banks could also look into how people are feeling about money, investments, financial choices and what not. In short, sales, service and marketing-oriented analyses.
pfretty
50%
50%
pfretty,
User Rank: Ninja
8/15/2014 | 11:30:31 AM
Not surprised
Actually when you look at how capable people are overall at leveraging big data analytics, it is far from overwhelming. According to a recent IDG SAS survey, the majority of organizations are not particularly capable when it comes to amost big data tasks. However turning insights into action showed the least competence with some saying their organizations were not at all capable. 

 

Peter Fretty


How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of the Cloud Report
As the use of public cloud becomes a given, IT leaders must navigate the transition and advocate for management tools or architectures that allow them to realize the benefits they seek. Download this report to explore the issues and how to best leverage the cloud moving forward.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of November 6, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll