Small Data is not Enough Anymore The hyper connected world we live in generates over 2.5 billion gigabytes of data daily. This comes from social media, messaging, video uploads, and data created by sensors from IoT. Only in the US, there are over 700 million credit cards , and the average user makes about 20 transactions a month. When adding debit cards, reward cards, company transactions and overseas customers, it becomes clear that traditional spreadsheet environments are going to have a hard time keeping up. We can say that dealing with this problem using only small data tools is not enough anymore. Bank-specific Uses of Big Data Although big data can be useful in many verticals, the banking sector faces particular challenges related to risk management, compliance, and fraud, where big data can prove particularly valuable. Real-time Risk Analysis The banking sector is subject to the Basel III framework which aims to protect all banks from capital-related risks, credit risks,...