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BBVA Innovation Center visit – “Big Data and Innovation in Banking” masterclass delivered to IE students

big data bbva [1]Last Wednesday January 20th Mr. Marcelo Soria-Rodriguez, VP of data services at BBVA Data & Analytics, and Mr. David Martin, Living Lab manager, took 20 lucky IE Big Data Club members on a tour around BBVA’s Innovation Center. IE students had the chance to witness first-hand how BBVA is leveraging the huge amount of customer data the bank owns – with gigabytes of new data being generated every second.

The main take-away of the tour was the crucial part data visualization plays in Big Data. A good analysis and state-of the art models are not enough; solutions and outcomes must be easily understood from a business perspective so senior managers can truly take informed decisions. Several examples on the importance of data visualization were displayed: the trend of commercial transactions during Easter holidays in Spain, heat maps of the effect of football matches…

During the visit students got the opportunity to engage in interesting discussions with BBVA’s hosts, such as the impact of data protection and privacy issues on Big Data and how a large bank has to balance the insights than can be obtained from Big Data with guaranteeing the discretion of data.

Due to exceptionally high demand, Big Data Club will be organizing another visit to the BBVA Innovation Center. Stay tuned!

You can visit the following website [2] to follow the latest activities of the BBVA Innovation Center.