Banks deal with almost unimaginable volumes of data. By some estimates, the amount of data held by U.S. banks alone exceeds more than 1 exabyte (1 billion gigabytes). To put that into perspective, that’s the equivalent of 1 trillion e-books or 250 million DVDs worth of information.
But data alone is largely meaningless. To drive data-driven decision making and create real business intelligence, banks need to turn this data into insights. And they need to do this in a way that navigates the regulatory and data privacy restrictions unique to the financial services industry.