Top Ten Big Data Trends in Finance
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The document discusses various trends in the application of big data within the finance sector, highlighting its role in predictive modeling, risk management, and consumer strategies. It emphasizes the importance of enhancing data transparency, developing credit risk models, and investing in infrastructure for improved data processing and security. The content also points out the growing significance of big data in emerging markets and the need for innovative frameworks to manage large data volumes.
Top Ten Big Data Trends in Finance
- 1. Big Data trends in FinanceHow Big Data is proving invaluable to Finance10
- 2. I. Predictions via history Market data sets with historical records used to feed predictive models, forecasts & assess trading impacts!
- 3. II. Transparent analyses Deeper analyses on governance & risk reporting Necessary for regulations & compliance standards
- 4. III. ERM scale-up Makes risk management easy Improved transparency, auditability & provisions against human lapses
- 5. Data from multiple data touch-points (branch, web, mobile) to supplement new predictive analysis Focus on behavior patterns & increased conversion IV. Consumer-centric data strategy
- 6. THIS IS WHERE BIG DATA IS ALSO USED
- 7. V. Exploring newer markets Substantial big data investment & infrastructure in BRIC economies Rising local & cloud-based data capacities
- 8. VI. Reducing cost of business Employing advanced big data storage & process frameworks Easing operations functionality to discover innovative trading opportunities
- 9. VII. Framework reconfiguration Restructuring ETL processes to help manage large data siloes & large-scale data processing ETL More on
- 10. VIII. Improving credit risk models Running analytics & enabling predictive analysis based on historical payment behavior Predict & determine future risk Provisioning priority collections
- 11. More on Predictive Analysis
- 12. Universal use of mobile applications & Internet- connected devices (tablets, smartphones) to collect trading information Raising tech stack to battle data deluge Frameworks to integrate structured & unstructured data equallyIX. Increasing data collection points
- 13. X. Impermeable data centers Innovating self-secured algorithms to process data Ensuring data security to access control on & minimize negative impact on existing systems
- 15. VISIT www.promptcloud.com/blog FOR MORE BIG DATA ANALYTICS, AND WEB CRAWLING ARTICLES