After a decade of snowballing development, big data is big everywhere. With financial services –along with manufacturing, retail, healthcare, energy and telecommunications– among the industries1 in which its use cases abound.
This study looks first at banks’ broad use of big data solutions to accommodate and draw meaning from the burgeoning quantities of information with which they are increasingly heavily laden. Subsequently, we run through the broad range of concrete use cases where big data in banking is applied in more specific detail. We then look briefly at how big data in banking may be used in the future.
Finally, we pause to reflect on the importance of not getting too carried away by some of the exuberance that this innovative area can elicit.
