Big data in banking

One of the key problems initially faced with any Big Data research is that the term itself is highly ambiguous and a quick Google search reveals millions of pages each with their own spin on the definition of Big Data. This can lead to misunderstandings when talking about the topic. To avoid any confusion we outline our own Big Data definition right here:

Big data was born out of the necessity of data sets growing so large and complex that traditional tools are no longer sufficient to process this data. By aggregating large amounts of data from many different sources makes big data very powerful for business
decision-making, revealing insights and behaviours faster and better than otherwise possible with traditional BI.