Tibco Software Inc. (NASDAQ:TIBX) has been working on Big Data for some time now and its Spotfire is now integrated with Big Data. The company has a vision and sees a bright future for Big Data, especially once Big Data becomes Fast Data.
Vivek Ranadive, the CEO of Tibco Software Inc. (NASDAQ:TIBX), was on CNBC recently and he explained how Big Data can impact the way financial markets operate and he discussed the role of Silicon Valley in the transition. Ranadive said how non-conventional players in Silicon Valley might disrupt the way everyone looks at Wall Street.
“There might be non-conventional players sitting here in Silicon Valley that could cause a huge disruption to Wall Street as we know it today” Ranadive said.
There is a reason for Ranadive’s statement because according to Mark Palmer, GM of Tibco Software Inc. (NASDAQ:TIBX), after 25 years from now, a computer will be taking real time insights from an infinite amount of historic information just to make temporary decisions. The technology will also give insights on not just what’s happened in the instant but what’s happened in the past. This concept is called ‘Fast Data’ which takes boundless amounts of information and lets users make real time decisions.
Ranadive said that the amount of data created in the last couple of years was over 10 times the entire data created in the years before and this need seems to be rising. Palmer stated how Wall Street’s Data needs keep growing similar to the other industries and he says that every decision is now digitized.
Ranadive added that it’s time to go virtual and he gave some examples of companies that are already fully virtual. Companies like Amazon.com, Inc. (NASDAQ:AMZN) that lead book sales don’t even have a single store. He said similarly the world’s largest bank won’t have branches, won’t have trading floors, and won’t have bankers. He said that the Federal Reserve would just be a computer program in the future. It would be based on an algorithm and would be Big Data Central Bank.
However the big question is if Silicon Valley can ever display its Wall Street as the Financial Capital of the world?