BBVA API Market
Big Data means handling large quantities of data, which may be of different types. The consulting firm IBM has its own classification of data types, which can be used as an example. There are five types:
Web content and information retrieved from social networks such as Facebook, Twitter, LinkedIn, etc.
Records of billing, detailed records of calls (CDR), etc. Transactional data in semi-structured and unstructured formats.
M2M means the technologies for connecting to other devices. M2M uses devices such as sensors or meters which capture a specific event and transmit it to other applications via wired, wireless or hybrid networks. The applications then translate these events into significant information, security and intelligence. Biometric data are important for investigation agencies.
Biometric information such as digital fingerprints, retinal scan, facial recognition, genetic recognition, etc. In security and intelligence, biometric data are important information for investigation agencies.
People generate data such as the information saved by a call center during a phone call, voice notes, emails, electronic documents, medical exams, etc.
Also, data can be classified into three types depending on their structure:
Data whose length and format are well defined and stored in tables. They can be ordered and processed easily by any data management tool. Examples of structured data: dates, data sheets or databases.
Not regular; as such, this information cannot be managed in a standard way. These data have their own semi-structured metadata describing objects and their relationships; they may eventually be accepted by convention. HTML, JSON and XML are semi-structured data.
Binary data with no identifiable internal structure. Mass, disorganized set of data with no value until they are organized (identified and stored). Examples include images, videos, audios, PDFs, RRSS and .txt.
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.
Open banking has changed the financial paradigm as we have known it so far. The widespread use of new digital platforms, connected devices and technology consumers has led to a boom in business opportunities for every company, many of which are already leveraging their benefits as much as possible.
The digital transformation has not been fully implemented in the automotive sector yet, at least not as quickly as in other distribution sectors. APIs can be this sector's best ally by speeding up its digitization, especially in those areas involving the purchasing process.