Tabb Reports: Big Data, Outsourcing to Dominate Data Challenges, Spend

Firms are struggling to harness Big Data technologies, while overall data spend continues to rise.

shagun-bali-tabb

In the report, Data Tsunami, Tabb analyst Shagun Bali predicts that this failure by financial firms to remain in control of their data means that spending in the global compliance data market will rise by as much as 8 percent in 2015, to $2.6 billion.

The biggest problem facing financial institutions is managing the massive amounts of data that they collect, Bali tells Inside Market Data. "They have all this data.... How do they combine the structured and unstructured data that the newer regulat