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Big data – a vast pool of potentially invaluable information

Businesses – including banks – are constantly bombarded with a colossal amount of information, thanks to the ever-growing influence of the Internet. But how can financial institutions harness this information and start using it for their own purposes? Even finding and identifying the right information can seem like a headache – a bit like finding a stone in a raging torrent.

 You need to know how to look and where to look. And then, when you have the information, you need to know how to use it to boost your profitability. This is an important area that Oracle’s been exploring in a recent report, “Responding to change – how are banks using information and pricing strategies to boost profitability?”

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