In the past few years ‘big data’ has become-‘bigger’-both in literal and metaphorical senses and the leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The problem here in Bangladesh is-even though we take ‘big data’ as a buzzword-we barely understand the actual meaning and its significance.
First of all, we have to comprehend that big Data refers to the ever-growing amount of information we are creating and storing, and the analysis and use of this data. In a business sense, it particularly refers to applying insights gleaned from this analysis in order to drive business growth.
In other words, we’ve had software as a service, platform as a service and data as a service. Now, by mixing them all together and massively upscaling the amount of data involved, we’ve arrived at big data as a Service. In the cover story of this issue, we attempted shedding light on the implication of big data in Bangladesh. We try to convey the message that availing big data as a service is just some ‘intelligent policymaking decisions’ away.
The SAARC Tech Summit was organized this month and we wholeheartedly laud this initiative as we believe there is no alternative of effective communication-be it in pacifying a political feud or making the policymakers of the financial institutions aware about the need and effectiveness of IT investment. We hope that the discussions which took place during the two day SAARC Tech Summit would pave the way for formulating and implementing effective measures so that any further incident like Bangladesh Bank heist could be prevented in future.
August is a month of mourning as the father of the nation Bangabandhu Sheikh Mujibur Rahman was killed in this month in 1975. We run a story on the ‘Bangabandhu’ app which will give the younger generation a chance to sneak-a peek into this great’s persona’s life work.
As usual, we brought you some interviews of the leaders of banking, finance and tech industry and we filed the latest news and analysis on Fintech, so that you can get it all inside one cover. Finally by the time the issue will be in your hand, the celebratory preparation of Eid-ul-Adha, second biggest festival of the Muslim community will be on full swing.
Eid Mubarak to you all. Have a happy holiday with the Fintech family.
Md. Mizanur Rahman