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What Does Big Data Mean for Banks?
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ArunJ873
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ArunJ873,
User Rank: Apprentice
6/13/2015 | 2:37:44 AM
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KBurger
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KBurger,
User Rank: Author
8/5/2014 | 1:18:49 PM
Elusive Goal
Michael, this is an excellent analysis of the reasons why big data effectiveness continues to elude banks, even though we are not talking about something new or unproven. You've provided some real specifics that organizations can address, vs. "it's a skills/culture issue" (altho that is true, too). This point really resonated with me: "Traditional technologies, particularly the industry's most-common data stores (e.g., relational databases), were designed to enforce structure and optimize processing performance within a constrained hardware environment. As a result, many bank technologists are used to transforming data to meet these constraints, including aggregation to satisfy scalability limitations and data-normalization to satisfy schema restrictions." It's not just about the constraints of legacy systems, but it's the processes those systems demand that also are out of sync. Thanks for this analysis.
Byurcan
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Byurcan,
User Rank: Author
8/5/2014 | 9:30:58 AM
Big Data
Interesting article, you can't use "traditional" technologies and data mining methods in this new world of Big Data.


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