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Big Data Adoption Resources for Financial Institutions

Competition continues in the industry creating the need for transformational business strategies and technology to improve profitability for banks and financial institutions. As mentioned in our top technology trends post, Big data is widely talked about in banking as a catalyst for change.  However, banks have only scratched the surface of using smarter analytics. As a technology service provider and systems integrator, we work with financial institutions to dispel skepticism and enable strategic direction for organizations using business intelligence tools.

During our webinar yesterday, we touched on a number of areas and highlighted some low-risk strategies for banks as they prepare for the road ahead with big data.  Here is a sneak peek of some key takeaways:

1. Learn to find the right signals in your data. 

2. Focus on customer-centric outcomes for your business.

3. Big data governance and master data management (MDM) are a must.

4. Text analytics is a great tool for compiling social media insights.

5. Cloud services and data appliances provide lower total cost of ownership (TCO) options for solutions.

You’ll just have to view the on-demand recording or download the slides from of our webinar, “Big Data in Financial Services – Improve Performance with Data-driven Decisions” to see the rest! 

Also, our IBM practice recommends “Hadoop for Dummies” as a resource to help you analyze and manage the ever-increasing storage of information.  This free eBook is packed with everything you need to know about Hadoop analytics. This handy guide provides a solid understanding of the critical big data concepts and trends, and suggests ways for you to revolutionize your business operations through the implementation of cost-effective, high performance Hadoop technology.

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