Big Data; Beyond the fact that Big Data is about volume, velocity and variety it is also about collection of massive amounts of FinTech information, whether unstructured or structured and whether in house or in the public domain. As Peter Levine at Andreessen Horowitz describe it, “Big Data needs Big Compute”. In order for the Big Compute part to become finically affordable (as FinTech enterprise imperatives are focus on key financial performance metrics led by the need to increase revenue followed by increasing profits) you need to run it in the cloud. Now for the Big Data part of the challenge for FinTech enterprises one still need to investigate the system integration effort that are need to make that happen.
FinTech Business Solutions with Machine learning and Big Data will duplicate the behavior, at massive scales. Where business intelligence before was about past aggregates (“How many transactions we had in the past week”), it will now demand predictive insights (“How many tractions will we have in the coming weeks”). An important implication of this is that machine learning will not be an activity in and of itself … it will be a property of every application.