Big data and financial services have played their role together to boost the company's profits. Big data is providing advantages to financial services in three ways. Firstly, big data is keeping financial companies ahead to develop more creative and innovative ways of using big data to predict future, which companies are going to earn profits and which type products will be demanded in future. Nowadays, financial companies can easily monitor and respond to changes that exist in financial markets. Secondly, banks are also using big data to become more customer focused. This can be done by tapping the reams of unstructured data like lifestyle information, social media activity, and customer feedback and support requests. Thirdly, big data can be used in fraud detection. Read more at:http://www.smartdatacollective.com/bernardmarr/335942/3-ways-big-data-changing-financial-institutions-forever

When it comes to businesses and increasing their profitability, it is of no doubt that Big Data has brought in revolutionary changes. With proper handling of Big Data and data management, companies are trying to increase customer satisfaction and increase customer retention. Now, let's take a different look. 

Consider trading - capital market is one industry, where millions and millions of data float around. Regulatory bodies, banks, financial institutions store and analyze all these data that range over a large time horizon. They also need to study risk management practices and create new trading strategies. In capital market where focus has shifted from high frequency trading to discovering patterns and insights from financial data that can be used as case studies, big data can be made to its use. Financial services organizations are needed to invest in data management software that can harness the power of big data technology and extract hidden information.

How can they do so? Read them at: http://www.bankingtech.com/221932/big-data-and-data-management-in-capital-markets/ .

In order to become premier international financial company in the next millennium, Citibank, a Citigroup company, implemented quality initiatives to provide quick customer service anywhere in the world. They took the challenge of implementing Six Sigma to improve customer satisfaction by using methodologies like cycle time reduction (CTR), coupled with detection of defects using Six Sigma methods which resulted in significant improvements in process timeline, cash management and customer loyalty and satisfaction. To read more about this aspect please visit Rochelle Rucker’s (a freelance writer and publicist for Motivators Inc) article link as given below.

http://www.qualitydigest.com/dec99/html/citibank.html

Data analysis is an important part of BFSI organisations. It helps to manage huge customer database of the organisations. It also automates the day-to-day transaction process. An article by Mohan Jayaraman, Managing Director of Experian Credit Information Company of India Pvt. Ltd. and Country Manager of Experian India describes that it is necessary to bridge the gap between information and its effective usage. For this, data analytics solution requires ability to manage and draw interferences from large amounts of data.

 For more information, please go through: http://www.informationweek.in/informationweek/perspective/287791/indian-banks-improve-customer-lifecycle-analytics?utm_source=rss&utm_medium=rss&utm_campaign=how-indian-banks-can-improve-the-customer-lifecycle-by-using-data-analytics

With the advancement of new technologies, big data and internet, young professionals are getting opportunities for new career options. With the growth of facebook and twitter, different organisations of BFSI sector require more professionals for their work like collecting data, prediction and forecasting revenue. So doors for new jobs are being opened in front of the young pool of talents.

For more information, please go through: http://economictimes.indiatimes.com/news/news-by-industry/jobs/rise-in-demand-for-social-media-experts-in-fmcg-bfsi-pharma-companies/articleshow/29500508.cms

In the recent years, social media has become a place where emotional roller coaster of the stock markets can be captured. How the Twitter and Facebook users are reacting to different business news can foretell where the index is heading. Knowing this information can help the companies in predicting their market price, top line, etc.

To know more on how social media can help in predicting in stock prices read http://www.investopedia.com/articles/markets/031814/can-tweets-and-facebook-posts-predict-stock-behavior-and-rt-if-you-think-so.asp .