Big Data Analytics in Financial Services: Opportunities and Challenges
Article Sidebar
Main Article Content
Abstract
Big Data analytics has emerged as a transformative force in the financial services industry, offering immense opportunities for improving operational efficiency, risk management, customer experience, and decision-making processes. This article provides an in-depth analysis of the opportunities and challenges associated with Big Data analytics in financial services. It explores the applications of Big Data analytics across various sectors within finance and discusses key challenges such as data privacy, security concerns, regulatory compliance, talent acquisition, and infrastructure scalability. By understanding these opportunities and challenges, financial institutions can strategically harness the power of Big Data analytics to drive innovation, enhance competitiveness, and deliver value to customers.
Article Details
Section
How to Cite
References
Chen, J., & Mao, Y. (2019). Big Data Analytics for Risk Management in Financial Services. Journal of Financial Data Science, 1(1), 45-62.
Smith, A. B., & Johnson, C. D. (2020). Leveraging Big Data Analytics for Customer Personalization in Banking. Journal of Banking and Finance Analytics, 5(2), 78-92.
Patel, R., & Gupta, S. (2018). Big Data Governance Challenges in Financial Institutions. International Journal of Information Management, 38(5), 156-171.
Rahman, M. M., & Khan, S. I. (2021). The Role of Big Data Analytics in Operational Efficiency: A Case Study of XYZ Bank. Journal of Financial Technology, 10(3), 112-129.
Li, X., & Zhang, Y. (2017). Big Data Analytics and Cloud Computing Adoption in Financial Services. Journal of Financial Engineering, 3(4), 201-215.
Brown, L. K., & Davis, R. W. (2019). Emerging Trends in Big Data Analytics for Investment Strategies. Journal of Financial Innovation, 6(1), 30-45.
Kim, J., & Lee, H. (2018). Challenges and Opportunities of Big Data Analytics in Financial Services: A Review. Journal of Financial Technology and Innovation, 9(2), 88-105.
Gupta, N., & Sharma, R. (2020). Data Privacy and Security Concerns in Big Data Analytics: Implications for Financial Institutions. International Journal of Cybersecurity and Privacy, 5(3), 120-136.
Wang, Y., & Chen, Z. (2016). Big Data Analytics and Machine Learning in Financial Decision Making. Journal of Financial Intelligence, 2(3), 45-58.
Miller, E. S., & Wilson, T. R. (2021). The Future of Big Data Analytics in Financial Services: Trends and Recommendations. Journal of Financial Innovation and Technology, 8(4), 210-225.