Big Data is the term used to define the humongous volume of digital data out there in data universe – 2.7 zettabytes now and expected to reach 35 zettabytes additional data per year by 2020! However, from the industry perspective, big data also includes the mounds of data generated through customer contact programs, sales data, etc.
But, can there be a connection between the hardcore banking and finance industry and this plethora of structured and unstructured data, and how? This infographic explores the many distinct advantages that banks can derive from data mining and analysis.
Infographic by – InvestmentZen