The sheer volume of data generated on a daily basis in the BFSI industry has necessitated the adoption of a holistic data monitoring, gathering, and analysis solutions. Some of the key challenges that the BFSI sector currently faces include fraud identification, unorganized data, and operational inefficiency. The inclusion of big data technology and services has helped alleviate some of these challenges to a great extent.
On the back of these improvements, there has been a significant penetration of big data in the BFSI sector. According to current estimates, revenues generated from adoption of big data technology and services are likely to reach over US$ 33 billion in terms of revenues by 2026. Inclusion of Big Data Technology and Services Gaining Ground in Healthcare Sector Big data has massive potential in the healthcare industry, with proponents touting benefits ranging from epidemic prediction and reduced cost of treatments.
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