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Hadoop for Finance Essentials by Rajiv Tiwari

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Big data evolution in finance

You may be thinking that deriving intelligence from underlying data is a new phenomenon, but in reality it has been there since the computer was developed for commercial use.

In the '70s, there were terminal-based reports extracted from OLTP systems, and in the '80s, IT teams were able to combine data on OLTP systems with desktop tools with additional analysis options using spreadsheets and user interface tools.

In the '90s, Ralph Kimball and Bill Inmon proposed data warehouse paradigms, which transformed the way data was used. Financial organizations were able to store historical transactions and product and customer data in their data warehouses in normalized or denormalized form to be exploited by reporting and analytics ...

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