Attached. Please let me know if you have any questions or need revisions.Impact of Big Data Financial Services1Impact of Big Data in Financial ServicesInsert the name of the schoolInsert your nameInsert professor nameMarch 2021Impact of Big Data Financial Services2Impact of Big Data in Financial ServicesIntroductionBig data is one of the latest business and technical issues in the technological age. There arehundreds of millions of incidents happening every day. The financial sector is deeply involved incomputing big data events. As a result, hundreds of millions of financial transactions occur everyday in the financial world. This is why financial experts and analysts consider it to be a newtopic in data management and analysis of various financial products and services. In addition, bigdata has a significant impact on financial products and services. Therefore, identifying financialissues that are significantly affected by big data is also an important subject of research impact.Based on these concepts, the purpose of this paper is to introduce the current panorama of bigdata finance and show how big data affects various financial sectors, especially financial marketsand financial institutions.Problem StatementThe problem statement in this research is to discover the impact of big data on financialorganization performance. Now, it has become a necessity in our lives. In today’s global era,almost every area of life relies heavily on information technology. Even organizations havebecome very dependent on IT, so no company can be developed without IT implementation, sobig data must be used in the decision-making process (Acker, Blocks & Potscher, 2013). Datagenerates knowledge that drives progress and innovation. Whether it is optimizing the searchengine results of sites and portals, recommending products to colleagues and friends, ormarketing companies deciding which advertisements to display or which coupons to offer, datais critical to improving customer satisfaction.Impact of Big Data Financial Services3Discovery of Matthias et al. (2017) pointed out that data has made a huge contribution toproviding competitive advantages for all organizations (especially companies that want toincrease market share and improve performance). As a result, data creates wealth, and manymodern companies collect data at the most detailed level possible, thereby building a huge andgrowing data repository. These huge data scales have had a huge impact on how to designstrategies for managing company development, and thus affect the company’s results in theorganizational field as the basis for research.In terms of data diversity, analyzing large-scale structured and unstructured data can helpcompanies generate information from various sources, including consumer transactions,inventory monitoring, in-store video, advertising and consumer relations, consumer preferences,sales management, and finance Data (Schomm, Stahl & Vossen, 2013; Kambatla et al., 2014). Interms of data speed, big data analysis can be accessed and exchanged in real time through localand national authorities to improve decision-making (Wamba et al., 2015). My researchphilosophy is to create a database management system (DBMS) for large-scale operations thatexposes abstractions to simplify application design while providing tools to facilitateimplementation and system management. Based on this philosophy, the research covers a widerange of big data management fields, from transaction processing and analytical processingsystems, both theoretically and practically oriented research synergies.Literature ReviewIn the 1960s and 1970s, many companies used information technology extensively, mainly fordaily office and administrative activities, such as bookkeeping and accounting data processing(Bird and Lehrman, 1993). It acts as a monitor of the company’s internal and externalenvironment; that is, as a supporting factor for other components of the organizational systemImpact of Big Data Financial Services4(Blili and Raymond, 1993). Today, information technology has not only become a tool for dataprocessing and transaction recording, but also a competitive weapon that can change thestruct…
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