A brief note, from William Fellows at 451, on HSBC’s use of Google Cloud’s big data/analytical services:
They have lot of data, that’s only growing:
6PB in 2014, 77PB in 2015 and 93PB in 2016
What they use it for:
In addition to anti-money-laundering workloads (identification and reducing false positives), it is also migrating other machine-learning workloads to GCP, including finance liquidity reporting (six hours to six minutes), risk analytics (raise compute utilization from 10% to actual units consumed), risk reporting and valuation services (rapid provisioning of compute power instead of on-premises grid).
As I highlighted over the weekend, it seems like incumbent banks are doing pretty well wtih all this digital disruption stuff.
Source: HSBC taps Google Compute Platform for Hadoop, is ‘cloud first’ for ML and big data
Commentary from 451’s Peter ffoulkes:
The transformation of IT to a ‘client service’ model is notable and gaining momentum. While this is occurring in many forms, cloud-oriented projects are consolidating in an activity level at three times the level of other supporting projects, with internal private cloud projects leading the pack at 37%. Over the last year of the Cloud Computing Study there has been some pullback of public cloud activity. While these projects still outweigh traditional IT or ‘cloud-readiness’ projects at a similar level, there has been a small but noticeable shift toward private cloud project activity.
“Most IT decision makers have had personal experience with personal webmail or Web calendaring applications, such as Google Calendar,” Scavo wrote. “It is not surprising, then, to see these personal productivity applications leading the list of SaaS investment plans.”
I can’t wait for consumer tech to take over. More than likely it’s a generational thing – what I call a “retirement problems” the IT decision makers who are comfortable with the old white-collar toolchain (and haven’t “grown up” on the new, mostly Google- and Apple-driven toolchain) are the boy with his finger in the dike.
Survey: Email, calendaring, HR top list of SaaS buyers’ priorities