This IDC Financial Insights report presents IDC's 2013 Big Data and Analytics Maturity Benchmark Survey results for the financial services industry.
"Banking business models have been data-oriented for decades. But with the adoption of big data and analytics (BDA) technologies, a new platform for competition has emerged, confronting firms with the complexities of new technologies, skills requirements, and the seemingly endless opportunities to use data not previously possible," according to Michael Versace, research director, IDC Financial Insights. "In-market adoption of big data and analytics has reached the point where the capabilities and applications these technologies enable are becoming mainstream for a growing number of financial services firms. Yet many do not yet have a set of completely mature BDA competencies across the five critical dimensions that are necessary to effectively reduce execution risks and compete with strong business, technology, and operational value propositions."
Analytic applications, Big Data analytics and discovery, Big data and analytics, Data access, analysis and delivery, Governance, risk and compliance infrastructure, Market intelligence, Outsourcing services, Value added content, Vendor and sourcing management