The big-data challenges facing financial services

Big data is key to the evolution of financial services, but most players in the sector have yet to come anywhere near harnessing its full potential

Many financial services firms have gained access to huge volumes of new data as a result of their digital transformations, but they’ve barely started to extract full value from the wealth of material at their disposal.

The average company collects and analyses only 24% of the operational data available to it, according to a global survey by Seagate and the International Data Corporation in 2020.

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