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Outsource magazine: thought-leadership and outsourcing strategy | September 22, 2017

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Luxoft Big Data Accelerator

OUTSOURCEXPLORES THE IMPACT OF BIG DATA WITH LUXOFT

Partner-supplied content

The Power of Big Data

Big Data is no longer a “buzzword,” it has become a new class of strategic assets for enterprises. Nowadays the data from vast and varied sources can be harassed to add significant value and to gain business-critical competitive advantages.

When Big Data is distilled and analyzed in combination with traditional data, enterprises can develop a more thorough and insightful  understanding of their business, which can lead to enhanced productivity, a stronger competitive position, and greater innovation  – all of which have a significant impact on ROI.

Digitization of products and services, increased activity, and higher regulation of the finance industry is now forcing financial companies to collect, store, and analyze massive volumes of data with ever-growing, limitless streams of data from various sources.

Big Data requires a whole new application development paradigm to create the ideal technical solution that will effectively operate with huge volumes of disparate data and will conform to concrete business needs to secure real business value.

What Are the Big Data Adoption Issues at the Corporate Level through 2015?

According to Gartner Research, business analytics requirements within the Enterprise sector will drive 70% of investments in the expansion and modernization of the information infrastructure.

However, recent analytical research shows that 85% of Fortune 500 organizations will be unable to utilize Big Data for the needed competitive advantage.

The top business constraints with Big Data technology adoption are:

  • ‹Analytics Capabilities & Skills
  • ‹Infrastructure and Capitalize Architecture
  • ‹Investment, Budget, ROI
  • ‹Privacy and Security Risks

A leader in advanced application and software engineering, Luxoft offers expertise in the development and integration of solutions for Banking and Financial Services, Market Data Overview and Investment Management.  Providing comprehensive applications, Luxoft delivers visually appealing controls accompanied by extensive back end systems integration (including: back office, market data connectivity, transactions, portfolio management). See the video.

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