Predictive Analytics and Complex Event Processing Technology Move to Cutting Edge of Financial Services Industry

As data volumes continue to rise, bankers, insurers and traders are leveraging predictive models to anticipate future behavior and events.
By Nathan Conz and Melanie Rodier

As data volumes continue to rise, firms are adopting increasingly complex predictive analytics models to analyze the large data streams and anticipate future behavior and events. And, instead of using these models on a year-to-year basis, companies are employing them day to day or, in the case of Wall Street, in real time. The increased prominence of these sophisticated tools and systems across the financial services industry suggests that predictive analytics have become “the next big thing” — a hot technology with the potential to transform the business.

By leveraging predictive analytics and pattern analysis technologies, financial services firms are able to understand their customers, their operations and their markets in greater detail. Perhaps more important, they are able to identify and react to trends as they emerge, staying ahead of the curve — and the competition.  Insurance & Technology report.