It is the first time thatthe bank has opened its platform to the developer community through an API in a competition, so it is an important milestone in its history.
Within this context, and for the first edition of Innova Challenge, Big Data will take a leading role of our challenge due to its enormous potential and unprecedented relevance.
"Google estimates that every two days we generate as much information as we did from the dawn of civilization up until 2003".
Eric Schmidt, Chairman of Google.
Big Data is the term used to describe the set of processes, technologies and business models that are based on data and on capturing the value they hold.
Our aim, as well as ensuring that these data are more accessible and easier to use by anyone, is to provide them with intelligence so that decision-making by companies and public institutions can be more efficient and favor improvement in the quality of life of their citizens.
Some current examples of the use within the bank are:
- Risk analysis, such as for example in SMEs, with the aim of obtaining a more extensive vision of customers without limiting ourselves exclusively to their accounting or financial history.
- Optimal location of service infrastructures such as ATMs and bank branches to provide the greatest convenience for out customers.
- Adaptation of products offered to real customer needs.
BBVA Projects based on BIG DATA:
- "Dynamics of tourism in the region of Madrid".
- "Smart cities"
- Visualizations of the impact of Mobile World Congress and consumption in Easter Week