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A Guide to Big Data in Finance - Entrepreneurs Edition v1.0.pdf

A Guide to Big Data in Finance - Entrepreneurs Edition v1.0.pdf

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Published by: Smith Kim on Nov 12, 2013
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11/14/2013

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©IC
 
Dowson
 
and
 
William
 
Garrity
 
Associates
 
Ltd,
 
Eddie
 
George
 
and
 
London
 
New
 
Finance
 
a
 
trade
 
name
 
of 
 
Eddie
 
George
 
Ltd
 
1
 
|
 
P a g e
 
Big
 
Data
 
in
 
Finance
 
Entrepreneurs
 
Edition
 
FREE
 
Version
 
1.0
 
14
 
January
 
2013
 
This
 
report
 
considers
 
Big
 
Data
 
in
 
Finance.
 
What
 
is
 
Big
 
Data
 
and
 
does
 
it
 
matter?
 
How
 
is
 
it
 
being
 
used
 
to
 
increase
 
the
 
profitability
 
of 
 
Financial
 
Service
 
companies?
 
Who
 
are
 
the
 
leading
 
providers
 
of 
 
Big
 
Data
 
software?
 
Big
 
Data
 
outside
 
the
 
enterprise
 
and
 
what
 
is
 
Open
 
and
 
Mid
 
Data.
 
Will
 
privacy
 
laws
 
kill
 
Big
 
Data?
 
The
 
objective
 
is
 
to
 
give
 
the
 
reader
 
an
 
understanding
 
of 
 
the
 
Financial
 
Big
 
Data
 
landscape
 
and
 
provide
 
sources
 
of 
 
information
 
and
 
links
 
for
 
further
 
research
 
and
 
to
 
highlight
 
the
 
Entrepreneurial
 
opportunities
 
available.
 
 
©IC
 
Dowson
 
and
 
William
 
Garrity
 
Associates
 
Ltd,
 
Eddie
 
George
 
and
 
London
 
New
 
Finance
 
a
 
trade
 
name
 
of 
 
Eddie
 
George
 
Ltd
 
2
 
|
 
P a g e
 
Contents
 
Legal
 
Disclaimer
 
......................................................................................................................................
 
4
 
Notice
 
to
 
all
 
users
 
...................................................................................................................................
 
5
 
1.0
 
Preface
 
and
 
Executive
 
Summary
 
.......................................................................................................
 
7
 
1.1
 
Preface
 
....................................................................................................................................
 
7
 
1.2
 
Executive
 
Summary
 
......................................................................................................................
 
8
 
1.3
 
Size
 
of 
 
Big
 
Data
 
Market
 
...........................................................................................................
 
8
 
1.4
 
Fulcrum
 
of 
 
Innovation
 
in
 
Big
 
Data
 
................................................................................................
 
8
 
1.5
 
Financial
 
Services
 
Applications
 
....................................................................................................
 
9
 
1.5.1
 
Capital
 
Markets
 
......................................................................................................................
 
9
 
1.5.2
 
Risk
 
Management
 
..................................................................................................................
 
9
 
1.5.3
 
Credit
 
Assessment
 
..................................................................................................................
 
9
 
1.5.4
 
Consumer
 
Marketing
 
and
 
Behaviour
 
.....................................................................................
 
9
 
1.5.5
 
Dynamic
 
Pricing
 
....................................................................................................................
 
10
 
1.6
 
Government
 
Open
 
Data
 
and
 
Midata
 
..........................................................................................
 
10
 
1.7
 
Security
 
and
 
Privacy
 
....................................................................................................................
 
10
 
1.8
 
Entrepreneurial
 
Opportunities
 
....................................................................................................
 
10
 
2.0
 
What
 
is
 
“Big
 
Data”...........................................................................................................................
 
11
 
2.1
 
Overview
 
and
 
Definition
 
.............................................................................................................
 
11
 
2.2
 
Sources
 
of 
 
Information
 
...............................................................................................................
 
11
 
2.2.1
 
Internal
 
to
 
an
 
Entity
 
.............................................................................................................
 
11
 
2.2.2
 
External
 
to
 
an
 
Entity
 
.............................................................................................................
 
11
 
2.3
 
What
 
does
 
Big
 
Data
 
try
 
and
 
do?
 
.............................................................................................
 
11
 
2.4
 
Entrepreneurial
 
Opportunities
 
....................................................................................................
 
12
 
3.0
 
How
 
are
 
Financial
 
Services
 
entities
 
using
 
Big
 
Data
 
to
 
improve
 
profitability
 
..................................
 
13
 
3.1
 
Portfolio
 
and
 
Capital
 
markets
 
.....................................................................................................
 
13
 
3.2
 
Risk
 
modelling
 
.............................................................................................................................
 
13
 
3.2.1
 
Capital
 
markets
 
....................................................................................................................
 
13
 
3.2.2
 
Insurance
 
markets
 
................................................................................................................
 
13
 
3.2.3
 
DNA
 
......................................................................................................................................
 
13
 
3.2.4
 
Insurance
 
Big
 
Data
 
...............................................................................................................
 
13
 
3.3
 
Loans
 
and
 
Credit
 
Cards.
 
..............................................................................................................
 
14
 
3.4
 
Real
 
Time
 
Security
 
.......................................................................................................................
 
14
 
3.5
 
Customer
 
Behaviour
 
...................................................................................................................
 
14
 
3.6
 
Dynamic
 
Pricing
 
...........................................................................................................................
 
14
 
3.7
 
Predictive
 
Analytics
 
.....................................................................................................................
 
15
 
3.8
 
Credit
 
Scoring
 
..............................................................................................................................
 
15
 
3.9
 
Regulation
 
Powers
 
Big
 
Data
 
........................................................................................................
 
15
 
3.10
 
Simplistic
 
Relationships
 
pay
 
off 
 
................................................................................................
 
15
 
3.10.1
 
Capital
 
One
 
.........................................................................................................................
 
15
 
3.10.2
 
Analytics
 
as
 
Apps
 
................................................................................................................
 
15
 
3.11
 
Entrepreneurial
 
Opportunities..................................................................................................
 
16
 
4.0
 
Leading
 
Providers
 
of 
 
Big
 
Data
 
Software
 
..........................................................................................
 
17
 
4.1
 
Big
 
Data
 
Core
 
Processing
 
Engines
 
...............................................................................................
 
17
 
 
©IC
 
Dowson
 
and
 
William
 
Garrity
 
Associates
 
Ltd,
 
Eddie
 
George
 
and
 
London
 
New
 
Finance
 
a
 
trade
 
name
 
of 
 
Eddie
 
George
 
Ltd
 
3
 
|
 
P a g e
 
4.2
 
System
 
&
 
Analytics
 
Providers
 
......................................................................................................
 
18
 
4.3
 
Entrepreneurial
 
Opportunities
 
....................................................................................................
 
18
 
5.0
 
Government
 
Open
 
and
 
Mid
 
Data.
 
..................................................................................................
 
19
 
5.1
 
UK
 
Government
 
Open
 
Data
 
........................................................................................................
 
19
 
5.2
 
MiData
 
.........................................................................................................................................
 
19
 
5.3
 
Entrepreneurial
 
Opportunities
 
....................................................................................................
 
19
 
6.0
 
Privacy
 
.............................................................................................................................................
 
20
 
6.1
 
e
Privacy
 
Directive
 
European
 
Cookies
 
Law
 
.................................................................................
 
20
 
6.2
 
The
 
European
 
right
 
to
 
die
 
(be
 
forgotten)
 
on
 
the
 
internet
 
..........................................................
 
20
 
6.3
 
Consumer
 
response
 
to
 
Privacy
 
...................................................................................................
 
20
 
6.3.1
 
Anonymous
 
..........................................................................................................................
 
20
 
6.3.2
 
Don’t
 
Care
 
............................................................................................................................
 
20
 
6.3.3
 
Sell
 
your
 
data
 
.......................................................................................................................
 
20
 
Let
 
a
 
third
 
party
 
manage
 
your
 
data
 
and
 
privacy
 
in
 
return
 
for
 
cash
 
..................................................
 
20
 
6.3.4
 
Selectivity
 
in
 
returns
 
for
 
Benefits.
 
........................................................................................
 
20
 
6.4
 
Entrepreneurial
 
Opportunities
 
....................................................................................................
 
20
 
7.0
 
Sources
 
............................................................................................................................................
 
21
 
Appendix
 
1
 ‐
Accel
 
Big
 
Data
 
Fund
 
 –
 
2012
 
Investments
 
.........................................................................
 
22
 
Appendix
 
2
 ‐
Using
 
Big
 
Data
 
to
 
Shape
 
Empirical
 
Decision
 
Making
 
in
 
Insurance
 
...................................
 
23
 
Appendix
 
3
 ‐
Regulations
 
Drive
 
Big
 
Data
 
..............................................................................................
 
25
 
Appendix
 
4
 ‐
Big
 
Data
 
Market
 
Segment
 
Analysis
 
by
 
Supplier
 
...............................................................
 
28
 
Appendix
 
5
 ‐
Big
 
Data
 
Companies
 
 –
 
Investment
 
and
 
Investors
 
............................................................
 
29
 
Appendix
 
6
 ‐
Datameer
 
 –
 
Top
 
free
 
Applications
 
...................................................................................
 
30
 
Appendix
 
7
 ‐
EU
 
Privacy
 
Proposals
 
........................................................................................................
 
31
 

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