Samantha Lee/Business Insider
- The amount of data being spit out around the world every day, from Tweets and Google searches to Instagram posts and Venmo transactions, is truly massive.
- It’s triggered a data gold rush, with companies collectively spending nearly $190 billion on technology to analyze and interpret any information they believe will give them an edge over competitors.
- There’s plenty at stake: Cracking the code on big data could lead to larger profits, more market share, and a deeper understanding of customers.
- The finance industry, from hedge funds and asset managers to large banks, is at the forefront of this trend.
- This week, Business Insider’s finance team is bringing you a new series focused on the future of data on Wall Street.
- Subscribe to Prime to read these stories and more.
The amount of data spit out into the world each day is truly massive.
From Tweets and Google searches to Instagram posts and online shopping trips at Amazon, everyone is creating "digital exhaust" through their daily activities. This information, if harnessed correctly using technology, can be incredibly valuable.
It’s creating a data gold rush, with companies globally expected to spend nearly $190 billion this year on software and services to analyze any sort of information that could give them an edge over their competitors.
The finance industry — from hedge funds and asset managers to large banks — is at the forefront of this trend.
There’s a lot at stake: Cracking the code on big data could lead to larger profits, more market share, and a deeper understanding of customers.
This week, our finance team will bring you a new series focused on how data is reshaping Wall Street:
- Bradley Saacks reports on how hedge funds areso overwhelmed by data that they’re turning to an unlikely source to help synthesize it: random people on the internet. He also weighs in on how the maturing hedge-fund industry has encouraged some of the biggest funds to expand their businesses beyond just investment strategies, including spinning off companies that sell data services and artificial intelligence to their competitors.
- Meghan Morris brings you the story of one software startup that’s using data and analytics to help traders identify decisions that make money, and avoid those that don’t. But, as she learned, it can be hard to persuade some veteran traders to look in the mirror.
- Dan DeFrancesco looks into how the opaque bond market could be the next frontier for the booming alternative-data business.
- And Dakin Campbell spotlights Rob Casper, a JPMorgan executive in charge of one of the largest data projects on Wall Street today.
We’d love to hear your thoughts on the series. Reach us at firstname.lastname@example.org.
- Pricey data, slashed fees, and poor returns are hurting hedge funds’ margins —and some are getting in the business of helping their rivals
- The opaque bond market could be the next frontier for the booming alternative-data business that’s on track to grow to $7 billion
- JPMorgan’s chief data officer wowed CEO Jamie Dimon with a video depicting the bank’s databases as a solar system. It set him up to lead one of largest Wall Street data projects.