Application of Big Data technology in financial markets

Abstract

The financial sector generates huge amounts of data every day. Thus, more attention should be paid to the transformation of the obtained data into practical knowledge. Big data technologies have made a kind of revolution in the business world. The terminology of big data, as well as sources and their characteristics are studied. The advantages of Big data for business management and decision-making planning are evaluated. The paper examines the areas of application of technology in the stock market, banking, credit risk management, and describes some real forms of application and processing of data obtained by Big Data technology.

Keywords

• big data
• credit risk
• stock market
• banking
• meta-education