BBVA API Market
The consultants Mckinsey highlight the four ways Big Data can generate value for any industry:
A report on Big Data by Mongo DB also includes some other uses:
Big Data has benefited different industries in a range of ways, although there are still endless possibilities to explore. When Big Data is combined with the Internet of Things (loT), it undoubtedly opens up a wide array of opportunities for decision-making.
Below are several examples of sectors in which Big Data can contribute by generating value:
In the area of education, Big Data analysis can:
In the healthcare sector, the effective management of data allows the analysis and discovery of new options for improving patient care.
In the retail sector, companies can collect a range of information on their customers to come up with effective ways of managing transactions or improving customer relations and ensuring user satisfaction, among other benefits.
The banking sector is currently looking for new and innovative ways to manage the vast amount of information, while seeking to minimize risk and fraud.
In one hour, 60 million transactions take place on two billion cards in 220 countries and territories through 40 million businesses
Banks possess very valuable data on user behavior. Payment cards and bank accounts provide a wide array of data on consumers and businesses. BBVA’s APIs offer you access to this anonymous information so you can draw conclusions to benefit your business.
Although Big Data offers substantial utilities for corporations, there are also benefits for medium-sized and small companies. It is not necessary to hire large groups of experts, as many companies offer customized data analysis services.
Leaving aside the business world, the management of large volumes of data is not only useful for companies, but brings a new perspective for understanding and resolving the problems of society, the environment, natural disasters and urban planning, among others.
Taking a customer through the entire buying process until it is formalized is an arduous journey and one that faces the constant possibility of the customer leaving. However, there are ways to make the buying decision happen if you are given facilities such as agile, secure financing.
Open banking is driving the development of new apps that are integrated into company platforms, all in an effort to offer banking services to customers. Thanks to APIs, any banking operation, such as opening an account, can be done without the need to exit an application.