Customer Data Management
Financial Institutions need data. As a matter of fact, big data has revolutionized the way in which financial institutions function. The volume and variety of data are contributed through social media and a large number of transactions.
The data is present in two forms-
While the structured data is easier to handle, it is the unstructured data that causes a lot of problems. This unstructured data can be handled with several NoSQL tools and can be processed with the help of MapReduce.
Business Intelligence is the most important aspect of Big Data.
Benefits for the company
Industries utilize machine learning to generate insights about the customers and extract business intelligence .
Furthermore, machine learning algorithms analyze the financial trends and changes in the market values through a thorough analysis of the customer data.
Type of expertise/ AI domain
Data Mining, Text Analytics, Natural Language Processing, PySpark – data distribution
Internal data required