Big Data Requires Big StorageFebruary 9, 2012 No Comments
SOURCE: Bank Systems and Technology
Banks have long been built on massive amounts of data. But as “big data” gets even bigger, legacy storage systems are growing increasingly inefficient and even obsolete, according to industry experts.
In fact, financial institutions will have to completely rethink and recreate the way they store data to effectively deal with the crush of information they possess, says Barbara Murphy, CMO of Panasas, a Sunnyvale, Calif.-based data storage provider. “The challenge that the banking industry has in consolidating different data types is, can you take all the different file types and have them rest in a single location?” she notes. “You need the scalability that can handle that, which traditional systems don’t have. Infinite scale is now a requirement. There needs to be an entirely different architecture.”DATA and ANALYTICS