Big data implementations in finance
Before any big data project is kicked off, just like any other project, there are certain prerequisites for it to be successful:
- Business requirements: Work with business users to understand their requirements—the problems with the current data systems, new sources, and possible opportunities. We need to have the big data problem defined.
- Gap analysis: Understand the current and future state and list down all gaps—changes to data interfaces, data governance, data architecture, data visualization, and so on.
- Project plan: Details on the business, big data, and technical architectures, including resource requirements and clear return on investment calculations.
The key challenges
As Hadoop is a new technology, its ...