Big Data and Finance 2.0
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CardSpring Raises $10 Million To Connect Payments To The Web | TechCrunch
We measure every last click when it comes to the Web, but there remains a gulf between online and the real world. Yet the online world increasingly drives behavior offline, especially when it comes to purchasing habits. How many times have you researched something online or on your mobile phone before buying it? Yet when you go to a store to buy it, everything you did online might as well disappear as far as the merchant is concerned. It doesn’t have to be that way. The last mile in local commerce is really only the last few inches between the credit card in your outstretched hand and the card swipe at the register.
I've written quite a bit about the shortcomings of traditional economic models of markets. Most notably, such models -- typically characterized by rational agents the actions of whom lead (by assumption) to a market equilibrium of some sort -- generally fail to explain basic dynamical features of real markets. These include, most prominently, 1) a pronounced tendency in all markets to large price fluctuations reflected in "fat tailed" distributions of returns , and 2) vigorous and persistent volatility with delicate long-memory features, which is closely linked to the way that episodes of volatility "cluster" in the market.
Natural models of markets
Connecting the Dots
With health care and medical fraud costing consumers over $100 billion dollars in the United States alone, there has never been a more important time for fraud prevention. The question has always remained, how can I as an analyst proactively identify emerging trends across large volumes of medical billing. By leveraging visual analytics, analysts gain the ability to holistically examine large amounts of medical billing across geographies, allowing for the intuitive identification of medical billing and provider to claimant trends which are indicators of fraud.
Wall Street Conquers Big Data on the Web - Wall Street & Technology
The Internet is an ocean of content, swirling with documents, news, blogs, buzz, speculation and rumor. And hedge funds and proprietary trading firms increasingly recognize the value in mining this web content to predict trading opportunities. But how does a firm harness the web's flood of unstructured data?
Data Finance
How much data do you think a bank captures about you? A digital trail is left by each and every interaction with an institution e.g. payment over a branch counter, phone call to check the status of a mortgage application or a cash withdrawal from an ATM but just how much? There’s the obvious things such as transaction records (I took £10 out of the ATM which debited my account) but banks actually capture much, much more information about your activity (where the ATM was located, which organisation owned the ATM, whether you got your PIN right first time etc.). A phone call generates even more information ‘This call may be recorded for training purposes’ is a familiar start to calls with most service organisations but what is recorded? More importantly, what is done with all this data?
» Please Give Feedback Aden Davies
This week at South by Southwest, I met with a cool startup called DueDil , which is trying to provide a Lexis-Nexis-meets-Google-meets-LinkedIn style of service that aggregates public data on companies from a variety of databases, then uses that to create new metrics to indicate how solvent or successful the business is and will continue to be. In talking to founder Damian Kimmelman, I realized that the aggregated data his company has access to could help remake popular ratios and metrics used today for risk analysis. The company, which is based in the U.K., has raised £250,000 ($401,855 USD) of angel funding and currently has data available on 7.7 million British companies. Eventually, however, Kimmelman wants to bring the service to the U.S. if all goes well in Britain.
Can Big Data in Finance Lead to New Metrics?: Tech News and Analysis «
You may (or may not) have seen that two weeks ago, together with Horace Dediu of Asymco , we published an interactive report about the state of the global mobile phone industry. This is our first step towards what we’ve termed the “reinvention of business research”, and this term is what I’d like to discuss in more detail here. Timetric is one of the many start-up companies in the data-as-a-service space.
What we mean by “reinventing business research” | Timetric Blog
ASKING a friend for a loan is a quick way to tide you over till the end of the month. But Wonga, a British internet firm, is almost as fast. Those in need of cash give the service some basic information about themselves. If Wonga considers them trustworthy, the money—as much as £400 ($641) for up to 30 days for first-time users—arrives in their accounts within 15 minutes. Consumer advocates are highly critical of the service: its annual interest rate currently exceeds 4,000%.
