Sigrid Rouam, lead data scientist at SGX, discusses the role of big data in business and finance, and how companies can change to make the most of the data scientists they employ

Big data and data analytics is becoming increasingly accepted as a vital ingredient in the pursuit of a smarter and more profitable business strategy.

She identifies some key areas, such as gaining deeper insights on customers to provide more personalized experiences, improving IT resiliency and operations efficiency, and enabling more real-time analytics beyond finance and trading.

In the dizzyingly fast-paced world of modern business and technology, staying still is effectively moving backwards.

Therefore, to get ahead of their competition, businesses need to do more than simply adopt big data practices.

Sigrid argues that the use of data is necessary for businesses today, but this is not sufficient to get ahead of the competition.

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