Authors: Emilie Ditton, Michael Araneta

Business Strategy
September, 2012  -  Doc # FIN236646
Number of Pages: 19
Number of Figures: 1

This IDC Financial Insights report looks into the initial approaches that are being taken by Australian financial services institutions (FSIs) in Big Data — their management priorities, their investment plans, and their first steps in their Big Data journey.

Emilie Ditton, research manager, Vertical Markets, remarks, "The biggest indicator of success for an organization on its Big Data journey is current effectiveness in its business analytics deployments and programs. The critical processes of delivering business cases, and managing change in the organization, will allow financial services institutions to build on these capabilities and approaches."

Michael Araneta, research director for IDC Financial Insights Asia/Pacific, states, "We expect the current effort of FSIs to achieve single customer views to give way to notable Big Data projects. We also have identified other use cases for fraud and risk management, social media analytics, and price optimization that will give Big Data tools the opportunity to show their potentials and thereby create momentum for Big Data programs in the next three years."

IDC Financial Insights Opinion | In This Study | Situation Overview | The Approach | Future Outlook | Essential Guidance | Learn More