The impact big data is making in the financial world is more of a splash than a ripple. The technology is scaling at an exponential rate and the consequences are far reaching. Increasing complexity and data generation is transforming the way industries operate and the financial sector isn’t exempt.
Currently, the world is creating 2.5 quintillion bytes of data daily and this represents a unique opportunity for processing, analysing and leveraging the information in useful ways. Machine learning and algorithms are increasingly being used in financial trading to compute vast quantities of data and make predictions and decisions that humans just do not have the capacity for.
Author: Gary Eastwood