Data science and big data analytics in financial services:a case study
The chapter discusses how Financial Services organizations can take advantage of Big Data analysis for disruptive innovation through examination of a case study in the financial services industry. Popular tools for Big Data Analysis are discussed and the challenges of big data are explored as well as how these challenges can be met. The work of Hayes Roth in Valued Information at the Right Time (VIRT) and how it applies to the case study is examined. Boyd's model of observe, orient, decide and act (OODA) is explained in relation to disruptive innovation in financial services. Future trends in big data analysis in the financial services domain are explored.