Title:

The transition to a data economy in financial services

Group publication title:

Financial Sciences. Nauki o Finansach

Title in english:

Przejście do gospodarki opartej na danych w usługach finansowych

Creator:

Fryczak, Jan Makary

Subject and Keywords:

Big Data ; Internet of Things ; datafication ; technological change ; internet rzeczy ; danetyzacja ; zmiana technologiczna

Description:

Financial Sciences. Nauki o Finansach, 2020, vol. 25, no. 4, s. 43-54

Abstrakt:

The aim of the article is to identify the opportunities and challenges in the field of data processing faced by companies providing financial services in Poland. Half of the world’s consumers are surrounded by data collection devices. Financial services are becoming increasingly aware of the need to change to enter this new data-driven economy. This transformation is a complex process that will require the best management skills to be successful. Obviously, companies should remain as innovative as possible, but at the same time they cannot devote all their resources to investments in technology. This article reviews the literature on the current developments in data-driven technologies to provide an outline of the environment to which financial firms need to adapt. The author describes the sources from which data can be obtained, and gives examples of opportunities they create, namely autonomous cars, geolocation and targeted advertising, as well as offers insights into the challenges of data processing and the transition to a data economy

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2020

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/fins.2020.4.03

Language:

eng

Relation:

Financial Sciences. Nauki o Finansach, 2020, vol. 25, no. 4

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA 4.0

Location:

Uniwersytet Ekonomiczny we Wrocławiu