Giving Big Data Advantage To Finance Professionals

Industry experts believe that this year more than 30% of total IT expenditures by global financial services companies will be focused on mobility, cloud, and Big Data Analytics. That’s to the tune of $475 billion and covers some of the powerful financial institutions like banks, insurance providers etc. With increased emphasis and momentum, Big Data Analytics skills have gone from being mere value additions to almost requisites for finance professionals.

Big Data Analytics Is Imperative For Financial Services Industry And Finance Professionals:

From fraud detection to portfolio stress testing, Big Data Analytics has a dynamic role to play in the lucrative financial services industry. Some of its main benefits in the sector include:

• Boosting Profitability : As finance sector companies manage to process large amounts of data quickly, they will be able to focus their attention on their target audience. It allows banks and other financial organizations to launch products that increase profitability.

• Mitigating Risks : Non-performing assets and loan defaults have caused many headaches for banks and financial institutions in recent times. Data Analytics offers a smart solution to mitigate those risks and make the right decisions to minimize their impact.

• Building Customer Loyalty : As organizations in different industries are realizing, big data is a wealth of information on potential and existing customers. Financial services companies can benefit from this information and retain their customers in the long run.

Finance Professionals With Big Data Skills Have The Edge

But where can they acquire the skills remains the crucial question. B Schools like VJIM, Hyderabad have picked up the gauntlet with their programs. The renowned management learning institution in South India offers PGDM (Executive) in Business Analytics for professionals with at least two years of work experience. The program is designed to offer them insights required for decision making, which can take their careers to the next level.

The curriculum for its flagship PGDM program also includes Big Data Analytics insights with practical exposure, to prepare students for future challenges of the finance world. It was also one of the topics covered during the 2^nd International Conference held by the B School last month.

Big Data Analytics and Finance are going to be inseparable in the future. By putting their money on acquiring these vital skills, aspirants can see long term career gains in this lucrative field.