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Banks and investment firms assess massive amounts of data to stay ahead of the competition. In 2011, for example, trading volume grew to 4.55 billion contracts, up 17 percent from 2010, while the American Bankers’ Association reports that there are 10,000 credit card transactions every second around the world. Datameer, based in San Mateo, Calif., provides an analytics platform that helps banks mine large volumes of customer data, such as spending behavior and other demographics, to improve their products and marketing campaigns.
Read more about the big data industry.