Research carried out by Quartet FS found that 100 percent of UK banks saw big data as a significant problem. The research has 20 percent of IT managers placing big data as a ‘extremely significant’ problem.

The research comes as investment banks are increasingly predicting that in-memory analytics will come to the fore as the standard architecture in solving big data within the next three years.

Georges Bory, co-founder and managing director of Quartet FS, said “With the majority of the UK’s investment banks still relying on spreadsheets to analyse their data, it’s no surprise that they are struggling with the ‘Three Vs’ of big data: Volume, Velocity and Variety.”