The Impact of Big Data on Finance and Its Application in Finance

Abstract

The rise of finance has been rapid in recent years. Because finance is an important part of macroeconomic regulation in modern economy. Therefore, progress in the financial sector has far-reaching implications for national progress. But as science and technology advance, so does the Internet industry. Through the Internet, we can send massive amounts of data to many locations. The banking sector is also greatly impacted by big data. Big data is applied to the financial sector. Through the library, the Internet, electronic resource database and other ways to read a lot of literature, the status quo and development of big data and finance are understood. This paper provides an explanation of what "big data" is and how it relates to the banking sector. This study elaborates on how financial institutions might make use of big data. The application of big data in the financial industry is very important because the collection and collation of data can help organizations quickly understand consumer preferences. The datacan be used as to make decisions quickly as well.