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Jul 3, 2014 11:39:00 AM

The Big Deal About Big Data

Make no mistake; Big Data is the business/technology/marketing buzzword of recent years. Ironic, because there’s so much debate about what that term means and even more discussion about what you can do with it.  

Big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis. (Forbes) 

It really doesn’t sound too complicated, does it? Put simply, Big Data is information your bank can use to inform strategy. The complexity arises in knowing how to identify useful data, knowing how to use and control the volume of information, and understanding risks and benefits. 

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Topics: Internal Controls, Big Data