Doing Nothing May Not Be an Option “With many institutions building a Big Data strategy, the ability to pick off your best customers from a current competitor is an increasing threat. Beyond that, there are many alternative providers that are building pseudo-banking strategies, collecting vast amounts of insight that can be used against you in the future. Google, PayPal, Amazon and other organizations are building a wealth of data on purchasing patterns.
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What to do in general? While the data within your firewalls provides a distinct competitive advantage, the unstructured insight available online, through mobile channels and through social media are equally valuable. In the new world, knowing that a purchase was made may not be enough. Knowing what was purchased may be the incremental difference needed to create loyalty.”
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The coming future of Big Data At BBVA, we would add: ■■ Look
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Source: The Financial Brand | Big Data: Big Opportunity In Banking… Or Big B.S.?, November 2012.
Imagination and technology are on a collision course that will change the world in profound ways:
Data science , or data intelligence?
Enterprises and professionals should target acquiring skills in data analysis of real-time streams across multi-structured sources and with high-volume data tools:
forward to a “personal data locker,” which will help consumers to manage personal data. ■■ Mix the data up for additional value; combining data may yield new insights. ■■ Big Data will give rise to a new type of company, a data-centric company.
TO DO !
VIDEOS
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echno | Top T r e n t r e: Ga 13 and Sourc for 20 s n io t 3 Predic ry 201 ebrua F , d n Beyo
June 2013 | BIG DATA 37