Enabling Technologies

How Finance Can Benefit From Data Analytics

MEDICI

In today’s fast moving data ecosystems, getting the right insights in time can be as hard as filling a cup from a fire hydrant. The only intelligent way to achieve bottom-line results from data is to be equipped with data analytics capabilities. Data analytics tools have been around for decades and they have evolved from simple Excel spreadsheet analysis of the 1990s to advanced predictive analytics solutions post-2010s. Analytics algorithms & tools are still evolving, and the new wave of development & acceptance of new technologies such as artificial intelligence and machine learning are making the market more promising.

According to the International Data Corporation (IDC), global spending on big data and business analytics will grow from nearly $122 billion in 2015 to $187 billion in 2019. Dan Vesset – Group Vice President, Analytics & Information Management at IDC, said, “Organizations able to take advantage of the new generation of business analytics solutions can leverage digital transformation to adapt to disruptive changes and to create competitive differentiation in their markets.”

The banking and manufacturing industries are the top two contributors to the growth of the data analytics industry. Pharmaceuticals, insurance, energy, agriculture, manufacturing, and banking are few...

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI who collaborate to create FinTech insights.

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