Challenges
Among all the conventional and unconventional marketing techniques, word of mouth marketing is the evergreen one. People always trust other people’s opinions and experiences before buying anything. Word of mouth marketing is possible when your customer is satisfied with your service. And this customer satisfaction is achieved by providing the utmost safety, security, and continuous upgradation with new technology.
Today, the financial industry has become the main target of cybercrime. The safety and security of financial data has become the main concern. Studies have shown that financial industries have been hit by cyber-attack 300 times more than any other industry. Each of these attacks cost financial firms millions of dollars.
In addition to the safety and security of the data, another challenge faced by our financial client was data compliance. Banks are spending a large part of their income on data compliance to keep up with the ever-changing expectation of consumers and stakeholders.
Solution
Big Data trunk covers a wide range of technologies and solutions to address data science challenges for the customers.
It was difficult for our financial client to sort the data and decide what is important and what’s not. Financial industry generates a large amount of data every day. The blessing of Big Data turns into a curse if you don’t know how to drive insights from the data.
We at Big Data Trunk provide strategic guidance to transform the data into insights which in turn solves the complex business challenges of our clients. We provide a wide range of technology consulting to help clients with data capturing, storage and processing the data for analysis.
To understand the challenges faced by our clients in the financial sector BDT worked in close collaboration with them to identify ways to store and process very large amounts of data in Data Lakes.
Along with consultation Big Data Trunk also arranged training programs to address the performance, security, and audit needs.
Success Outcome
Our programs helped our clients to make more informed and timely decisions by transforming organizational knowledge into insights. We made the process easy yet effective to drive more innovation for our customers.
The client was able to achieve the following results with the help of fresh and innovative ideas provided by us
Cost-effective:
It has become quite easy for clients to store a large amount of sensitive data, by storing them in various layers at minimum cost.
Global reach:
The client was able to expand their horizons by providing the service in various countries without compromising the quality.
Security:
Security was the prime concern for our client. Throughout the process, we had great collaboration with the customer to ensure a secure access to data so that privacy and compliance needs were addressed.
Competitive edge:
Using Big Data Hadoop and Spark, clients were able to take advantage of the cutting-edge technology and have a competitive Edge in the financial sector.