What is Lambda Architecture in Finance?
An example of an AI chatbot conversation about Lambda Architecture in finance.
What is Lambda Architecture in Finance?
Lambda Architecture is a data processing architecture designed to handle massive quantities of data by using both batch and stream processing.
How does it differ from traditional data processing architectures?
Unlike traditional architectures that may rely solely on batch processing, Lambda Architecture combines real-time data processing with batch processing to provide a more comprehensive view of data.
What are the benefits of using Lambda Architecture in financial applications?
The benefits include improved data accuracy, real-time analytics, and the ability to handle large volumes of data efficiently.
Can you give an example of its application in finance?
Sure! An example is fraud detection systems that analyze transactions in real-time while also processing historical data to identify patterns.
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