In the last few years, the world has seen an exponential growth in data volumes. Just two years ago, big data was seen as a problem for companies like Google and Facebook that had extremely high usage. Today, every financial services and insurance company realizes the importance of big data. Companies must be able to extract valuable intelligence from data quickly and efficiently—or risk being left behind by their competitors.
While all financial institutions have data that can be analyzed and explored to extract business value, many companies face challenges in putting their data to work. It is time consuming and costly to set up and manage an analytics platform. Most companies do not have an army of data scientists and programmers to implement and try a solution. In addition, even if a company has the right expertise, it takes time to procure and set up the required hardware. While public clouds provide on-demand infrastructure, financial institutions are reluctant to use the cloud due to compliance and security concerns—especially due to the proprietary nature of the information and the threat of identity theft.
Capgemini’s Big Data Analytics Sandbox lets financial institutions try ideas and deploy to production in a very short time frame. Our data scientists and experienced engineers can help your firm trim months off the time for product development.