Companies are now using Big Data services to cut costs, fight fraud, and improve their day-to-day operations.
Big Data as a service refers to any service involving the use of large data sets that are too big for traditional computing applications to handle.
Banks and other financial institutions use Big Data to prevent fraud. According to the American Bankers Association (ABA), banks throughout the United States stopped 8$ out of every $10 of attempted fraud deposits in 2014. The bad news, however, is than fraudulent activity still costed banks some $13 billion.
In an effort to further curb fraudulent activity, banks both big and small are now using Big Data. The FICO Card Detection System, for instance, fends off fraudulent activity. Banks can also use Big Data to identify customers' behavior, looking for unusual activity that could otherwise signal fraud. In order to use Big Data for this purpose, however, these companies must seek a provider of Big Data services, which leads us to the Big Data as a service market.
The World Big Data as a Service Market by Type of Solutions - Opportunities and Forecasts, 2014 - 2020 report by Research Beam is a comprehensive study of the global Big Data as a service market. Among other things, it reveals the market's definitions, chain structure, prominent vendors, services and feasibility of new investments. According to the report, the Big Data as a service market is influenced by many drivers, restraints and opportunities. The use of Big Data services for social media and mobile device is believed to help the market grow through the forecast period. Strong demand in the business vertical is also a key market driver for Big Data as a service. However, the market faces several challenges as well, such as concerns surrounding privacy.
Some of the Big Data as a service solutions explored in this report include DaaS, HDaaS and others. The report also analyzes the deployment models used in the market, such as hybrid, public and private.
The 2022 Market Size, Status and Forecast Report on Global Big Data As A Service report by Deep Research Reports is a second study of the global Big Data as a service market. It provides an in-depth look at the market and where it's headed, complete with forecast data through 2022. The report also includes import/export data, supply and consumption, cost, price, revenue, gross margins, and key regions' development status. The regions analyzed in this report include USA, EU, China, Japan, India and Southeast Asia, though other regions may be added in the future.
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