How are Financial institutions Leveraging Big Data to Transform Digitally

It is an estimation that more than 90% of today’s existing data has been created in the past 2 years. Approximately 2.5 quintillion bytes of data is created every day at the current pace. To top it up the overall revenue of the global Big Data market is estimated to touch USD$ 103 billion by 2027. This humongous amount of data comes from various sources such as smartphones, videos, text, audio, blogs, twitter feeds, wearable devices, scientific instruments, healthcare instruments, websites, financial institutions, and more.
Thus, Big Data, when coupled with conventional data sources, offers unmatched opportunities to understand humanity at high levels. Access to data science and Big Data Analytics has emerged as the game-changer for small enterprises, MSMEs as well as large organisations. Organisations that utilised small focus groups and general demographics data for their studies earlier have now started leveraging Big Data Analytics to extrapolate their target market activities.

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