The role of big data in financial sector: A review paper

Abstract

In the current era of information technology Big Data has gained significant importance in almost all the industries throughout the world. Big Data is now renowned for having the capability of effective decision making. Now companies around the globe are using Big Data for market analysis, customer analysis, however, the utilization of Big Data is much higher in the financial sector, yet publications on Big Data and finance are limited because of having significant challenges. Even though utilization of Big Data is highest in the financial sector and its importance cannot be ignored, the studies and analysis are inadequate. Considering the importance of Big Data in the financial sector this paper is an attempt to conduct a comprehensive literature review in the field of Big Data and finance. Thus, the study will contribute to the body of knowledge by providing horizons for empirical research in the field of Big Data and finance.