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April 8, 2015

Going solo will only lead to Big Data failure

Global capital markets are increasingly unable to cope with large amounts of Big Data - in order to gain a competitive edge they need to collaborate.

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New research from the TABB Group states that global capital markets are creating an analytics bottleneck due to the rise in consumption of Big Data. The solution, according to the TABB Group, is collaboration.

According to director of data and analytics at TABB, Paul Rowady, the capital market is not producing much data. However, Rowady believes that the extreme growth in the near future is distorting the coversion rate of that data into new, and sometimes desperately needed, analytics.

Rowady predicts that due to the complexity of Big Data, no firm will solely have the capability to manage the challenges without collaboration with a content aggregator and platform management partners.

Rowaday, said: "Even the simplest trading firm today may rely on hundreds of data sources – market data, fundamental, transactional and others – and the most complex global banks and asset managers are likely to rely on thousands of data sources, plus the temporal permutations of each of them."

As with other markets, the capital market is looking at Big Data in order to make competitive gains and content platforms in the future will be required to leverage hundreds of data sources from market data, fundamental, transactional and others.

Rowaday, said: "What’s required is a much more collaborative community of both internal and external specialists, representative of a new enterprise data management (EDM) strategy."

Competitive advantages will come from a combination of speed, intelligence and uniqueness. In order to support this, analytics needs to be updated faster and according to TABB needs to be more accurate by avoiding excess sampling.

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Rowady, said: "Given the need for speed, accuracy and uniqueness, more capital markets use cases need to be treated as high-performance. The conclusion for where we are headed follows easily from that: big data and high performance will converge."

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