Big data refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions. It is a term used to describe the large and complex datasets that are generated by businesses, organizations, and individuals. Big data in finance refers to large, diverse (structured and unstructured) and complex sets of data that can be used to provide solutions to long-standing business challenges for financial services and banking companies around the world. Big data analytics is transforming financial services by enabling institutions to analyze vast datasets, identify patterns, and make more informed decisions. Businesses across industries are using this technology for a wide range of purposes, including fraud detection, predictive analysis, and market research. Financial institutions leverage big data to personalize services, offer tailored products, and predict future outcomes. This paper seeks to explore the current landscape of big data in banking and other financial services.
big data, big data analytics, finance, banking, financial services
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