Using Unstructured Data

Financial Services Firms Should Get Started

Publication Date	June 2008
Publisher	IDC
Product Type	Report
Pages	17
ISBN Number	not applicable
Product Code	IDC04256

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Summary

This Financial Insights' report introduces basic approach for business analytics projects in the financial services industry based on unstructured data. By describing both the important pieces of the solution and a process for building one, this approach will facilitate the communications that will be necessary between the line-of-business managers and technical personnel in financial firms, and highlight some of the most critical elements of that conversation.

Building business analytics applications specifically to mine and leverage unstructured data will require unusual levels of collaboration between technical personnel and strategic business managers, concludes Patricia McGinnis, research manager.

Content

Financial Insights Opinion
In This Report
- Brief Description of the Solution
Situation Overview
- Urgency for Financial Firms
- Thinking About Unstructured Data
  - What Is Unstructured Data?
- What Good Is Unstructured Data?
- Harnessing the Diversity of Unstructured Data
- Figure: Data Diversity Creates Challenges
- Conceptual Framework for Projects with Unstructured Data
- Understanding the Pieces
- Figure: Conceptual Framework for Unstructured Data Analytics
  - The IT Domain
  - Analytic Engines
  - The User Domain
  - Figure: Sample Data Visualization Techniques: Star or Heat Map
- Understanding the Process
- Figure: Optimizing the Analytic Engine
- Figure: The Balancing Act: A Coherent Solution Fulfills User Needs Within Time, Budget, and Quality Constraints
Future Outlook
Essential Guidance
- Actions for Financial Institutions
- Actions for Vendors
Learn More
- Related Research
- Synopsis