Heliocor has just completed a four-month project looking at the business benefits of applying the technologies and tools developed in the for the Management of Big Data.
“Big Data” has been around for a long time but for the last 5 years its benefit has been obscured by an obsession to find a use it for social media and the management of unstructured data rather than applying it to the much more structured world of investment banking and asset management”. Says Owen Hall Managing Director of Heliocor in the UK
The project required Heliocor to look at the operation of the bank top to bottom and identify use cases through the business process. All Banks generate huge amounts of data, but this is often siloed and inaccessible and poorly understood. Heliocor’s strategy was to look at a number of use cases focused on joining silos to:
Smooth business flows
Improve risk valuations
Potentially monetise the cross business information
Surface data to improve compliance and regulatory reporting information.
“It’s been a fascinating process and one where we had to create a number of methodologies on the fly but it’s clear to us that there is some enormous value to be realised from the implementation of the technologies”.