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FintechDecember 3 2012

Banks ignore big data at their peril

Big data has the potential to revolutionise banks’ understanding of their customer base, allowing them to target individual business needs. But are banks ready for this new internet age? 
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Everyone is talking about big data these days. Big data means taking the massive volumes of data we receive and analysing it in depth to create sales opportunities with individual customers. So why do banks find this such a challenge?

The term big data has been around for a while now, but where did it come from? The term actually derives from around World War Two, when the phrase big science was used to describe the rapid cycle of changes in scientific disciplines during and after the war.

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