Retail banking to dominate Big Data by 2020

The growing adoption of Big Data analytics and the Internet of Things (IoT) are expected to add £322 billion to the UK economy by 2020, with retail banking expected to lead the way in Big Data use. That is according to a report by the Centre for Economics and Business Research (Cebr) and SAS, entitled ‘The value of Big Data and the Internet of Things to the UK economy’. It also found that the adoption of Big data Analytics and IoT was expected to create 182,000 new jobs between 2015 and 2020.