Big banks are ‘just cracking the surface’ of an exponentially powerful industry

Capital One is looking for a data scientist — the kind of person who might get excited by reading this in a job ad: NOAA Weather Data + Credit Card Transactions = Fascinating!

The lender isn’t alone, and recruitment efforts by companies from American Express to Geico highlight the way big financial-services companies are making use of their troves of user data to reengineer their business. Big data is an industry that’s barely in its infancy but is growing thanks to the pickup in the speed at which data can be processed and the realization that companies can use information to predict consumer behavior (such as how weather affects spending patterns.)

Author: Jonathan Marino

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