We’re creating a lot of data these days. We pay off credit card bills with a click of the mouse. We send money by bumping phones. There are apps that make it easy for the average consumer to invest in stocks, startups, and more.
All of these devices and solutions create large data sets otherwise known as big data. Each individual interaction rolls up to tell a larger story about how money is spent, lent, and invested. Big data opens up a wealth of opportunities for the finance industry to make more informed decisions and build more efficient products.
Author: Denise Chan