How financial service firms use big data to meet business goals

Most financial service firms, which includes banking and insurance companies, are engaged in a big data project to increase the pace of innovation and uncover game-changing business outcomes. The pressing challenge now is how to drive more continuous value and unearth opportunities more rapidly.

No matter where you might be in your big data journey, the following three-step approach to integrating big data into an analytics strategy can lead to success: Step One: Outline business objectives and outcomes To drive continuous and transformational improvements through big data-driven analytics projects, business units – IT, marketing, risk, compliance or finance, for example – should agree on and outline a mutually beneficial business objective.

Author: Vince Dell’Anno and Brian McCarthy

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