We discuss data analytics in the financial services industry and why the difference between perceived risk and actual risk is causing a lack of understanding about where data security is most appropriate.
We also look at the ETL (Extract, Transform, Load) process that exists in traditional data warehouse today and argue why instead the ELT (Extract, Land, Transform) process cuts costs, enriches the data and adds more value to the business. When you find yourself refactoring a data pipeline over and over again, you must ask yourself how much time do you spend maintaining legacy systems when you could be adding additional value to the business?
Finally, we consider what the data analytics space will look like for the financial services industry in the next 3-5 years. While cloud, machine learning, blockchain and other disruptive technologies are emerging, the industry wants to make sure they stay at the cutting edge, not the bleeding.