Results tagged “big data in banking”

You must Bank on Insights - Every time, Everywhere

Data science has been evolving ever since it has come into the picture for businesses and the year 2017 is no different. This evolution is driven by the sheer volume of data being generated and affordable computing power along with maturing algorithms. Business analytics is borrowing analytical advances from pure science and is making strides in generating actionable outcomes.

Want More from Big Data? Get Real!

Big Data.jpg

I know it sounds ludicrous, but there are banks which indeed process several thousand transactions per second! Blink. The counter notched up another 5,000 transactions. Oh wait, that's an additional 20,000 in the time you took to read this sentence.

Welcome to the reality of Big Data, which is growing at a scale that is almost unreal. Being part of a highly information intensive business, banking institutions are among Big Data's biggest stakeholders. So the fact that most banks process the bulk of their Big Data offline, outside of real time, by which time another million events have gone by, is most perplexing.



1