The Role of Big Data and Predictive Analytics in Financial Decision-Making

Title

The Role of Big Data and Predictive Analytics in Financial Decision-Making

Creator

Valecha, Kushagra

Description

Big data refers to enormous amounts of structured and unstructured data that arise daily. All the finance sector records transactions, market data, social media sentiments, customer behavior, and macroeconomic indicators. The big three dimensions of big data that are commonly called the "3 Vs" include Volume, Velocity, and Variety. It means the data came from sources such as social media, IoT devices, transactions, and sensors. This process involves large amounts of data hence requiring scalable storages, complex processing tools, and resources for effective data management and analytics. Velocity means the rate or speed at which data is originated and processed. Lastly, Variety denotes the different kinds of data, which include the structured ones such as databases and the unstructured kinds, such as images, video, social media post, and audio. Collectively, the 3 Vs capture both the richness and the potentiality of big data, demanding the need for innovation in terms of technologies and strategies to leverage this value. 2026, IGI Global Scientific Publishing. All rights reserved.

Source

Regulation and Innovation in Financial Markets;pp.39-56

Date

01-01-2025

Publisher

IGI Global

Coverage

Valecha K., Christ University, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-833731406-8; 979-833731404-4;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3373-1404-4.ch002

https://www.scopus.com/pages/publications/105023351948?origin=resultslist