Banks and other financial services organizations have been investing in big data for years. From purchasing data, to collecting it at various points along the customer journey, they have an overabundance of valuable customer and even employee information at their fingertips. Ideally, this would be used to optimize operations, analyze customer behavior and grow employee engagement, among other things.
But the gap between what is ideal versus reality, is a large and growing chasm. Much of the today’s data is stuck in lakes, silos, and other locations. Underutilized and decaying over time, it offers few if any insights, and taking control of this data requires an inordinate investment of time, highly skilled manpower and resources, on the part of data professionals.
With this in mind, SQream, the company behind the SQream DB data analytics acceleration platform, has published a free step-by-step guide, “Best Practices in Data Management for the Financial Services Data Professional.” Created especially for financial services data professionals, the guide provides a clear list of action items they can follow to rapidly ingest, organize, analyze and manage their big data. Financial services data professionals interested in optimizing their use of data within the organization can simply download the free guide and apply the easy to understand, actionable set of best practices in their day-to-day business activities.
“Data professionals in many industries are facing very similar challenges, but we see it is especially relevant in the banking and financial services world,” said SQream co-founder and CEO Ami Gal. “They possess massive amounts of information that they cannot rapidly and efficiently access and analyze.”
That unanalyzed data hidden in the continually growing data stores of financial services organizations has the potential to hold a goldmine of BI. According to one well known statistic, even though 90% of global data was created in the last 5-years, only one percent of this data has ever been analyzed.
Said Gal, “This one-percent statistic is mind blowing. Optimizing the ingestion, management and analysis of data is crucial to enabling organizations to reach their fullest business potential,” he explained. With SQream DB, data professionals can rapidly analyze more of their massive data, for faster insights and consequently, better decision making. “When it comes down to it, more data, faster insights and better decision making are the real game-changers, propelling business and increasing competitive advantage,” Gal said.
You can learn more about the step-by-step guide, “Best Practices in Data Management for the Financial Services Data Professional” here.