Big Data in predictive analytics of banks

The article discusses the prospects associated with the implementation of big data in banking. Conceptually, the phenomenon of «big data» has changed the structure of the banking industry, led to the emergence of new properties, and pushed the boundaries of banks. Any information, including numbers, words, graphs, tables, can be trusted only after careful study. Big data can be thought of as a series of approaches, tools, and techniques for processing large-scale structured and unstructured data in all its varieties in order to obtain the results necessary for decision-making. Big data is an alternative to traditional databases for decisionmaking. Big data technology plays an important role in the development of banking. Information has become a valuable asset, a kind of new oil that drives the information society, just as traditional oil was the main resource in the era of industrial development. Big data technologies are vital for asset management, risk assessment, and customer retention and expansion.