Simulate me: embracing the next evolution of predictive analytics for financial services
Financial services institutions have become vast repositories of data – sourced anywhere from ATMs and mobile banking platforms to systems performance logs. Countless FSIs have sought to tap into these rich data reserves to reveal insight into their business practices, customer habits, as well as to offer some hint of future industry trends. Yet, in a rapidly evolving industry, historical datasets offer limited insight into the prospective movements of a sector bound by the whims and wants of digital-savvy customers and febrile global markets.
Featuring expert insight from Dr. Richard L Harmon, Cloudera's Global Industry Leader – Financial Services, this article explores the limits of predictive analytics in FSI forecasting and how next-generation simulation technologies can offer the necessary technical leap to decode complex customer behaviours and predict fast-moving industry trends.