In "Big Data: A Guide to Where You Should Be, Even If You Don't Know Where You Are," Celent advises professionals in the insurance, banking and securities industries to not only understand their organization's current big data capability but also, and perhaps more importantly, where it should be.
The gist of Celent's advice is for financial services companies to: examine their current capabilities; evaluate where they should be; and then invest appropriately to close the gap. To facilitate accurate assessments, the research and consulting firm defines five tiers of data capability: spectator, experimenter, practitioner, innovator, and scientist.
"Celent does not advocate that all companies should aspire to be at the bleeding edge of big data," says Craig Beattie, senior analyst with Celent's insurance group and coauthor of the report. "The goal is to help financial institutions [determine] the level of investment strategically, and how to get there."
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