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By Michael VALENTA and Arnd HEßELER, zeb consulting*
The emergence of Big Data—or the ability to access previously unimaginable amounts of data, in some cases in real time—has transformed the financial services industry in several fundamental ways. This new phase of the information revolution has allowed regulatory bodies to digitize their supervision and monitoring efforts and companies that have embraced these new technologies are using analytical tools to make data-driven strategic decisions that provide long-term competitive advantage.
Especially in the financial sector, missing opportunities to capitalize on this development can be detrimental, due in part to how Big Data has increased efficiency of regulatory authorities. Big Data...
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