Complementing Hadoop And Other Batch-Oriented Big Data Analytics

Financial services continue to amass vast volumes of data. Using Big Data frameworks such as Hadoop, these large data sets provide an incredible opportunity for greater insight and intelligence on business operations. It helps financial services firms profile and segment customers better, personalize service offerings, conduct deeper analysis and improve decisions.

However, this analysis is performed on Big Data ‘at rest’. By combining these ‘at rest’ analytics with the streaming data analytics provided by Vitria OI, financial services firms have a formidable set of tools with which to tame the data deluge for both Big Data ‘at rest’ and Big Data ‘in motion’. Vitria OI provides the ability to visualize real-time feeds and take real-time action on significant events. Where the same feeds are stored in a Big Data framework, Vitria OI can work alongside the Big Data store, providing the ability to replay past events, analyze those events for patterns, compare past events with the current situation, and employ patterns learned from off-line analysis to real-time feeds.

Using this combined approach, Sales and Marketing, for example, can understand personalized customer behavior, creating marketing campaigns to an audience of one. Real-time insight enables the creation of novel transaction-, location- and time-based service offerings. Product managers can create precise offer bundles based on an individual customer’s preferences, and the success of new product launches can be monitored in real time against the business plan and adjustments made on the fly.

Read more about how financial services firms can benefit from streaming analytics