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In todays digital era, big data has emerged as one of the most exciting and potentially transformative technological innovations in the financial sector. Its rise has not only altered our understanding of financial markets and institutions but also presented unprecedented opportunities and challenges to the financial industry. As financial transactions, customer interactions, and market behaviors continue to digitize, financial institutions are actively exploring how to harness the power of big data to gain a competitive edge and enhance decision-making. This paper delves into the significance of big data in the financial sector and effective development strategies, analyzing its real-world impact on the industry. It aims to provide valuable insights to financial practitioners, decision-makers, and researchers on how to leverage big data to achieve financial objectives.
Zirui Shao (2024) studied this question.