By Nikita Ivanov, CEO of GridGain in Memory Computing. In the last 12 months we observed a growing trend that use cases for distributed caching are rapidly going away as customers are moving up stack… in droves. Let me elaborate by highlighting three points that when combined provide a clear reason behind this observation.
Finance experts instinctively understand that data have value. It’s the lifeblood of their industry after all. But some in the financial domain may not grasp all that data have to offer. Data science and big data have led to an expansion of the number of types of data sets, often referred to as Variety (one of […]
As a technical tip for all you budding Quants out there, here is an interesting blog called The R Trader which caters to the quantitative trading/investment industry in general and folks using R in particular. I stumbled across this blog with this recent post: Financial Data Accessible from R which includes a useful table of […]
A group of researchers from three U.S. universities are leveraging high performance computing (HPC) systems in conjunction with Big Data systems to make a significant step forward in the rapid analysis of financial markets; in effect reducing processing from hours/days down to minutes. The researchers from the University of Illinois, the Pittsburgh Supercomputer Center at […]
A new breed of data science “tournaments” is taking front stage in finding fresh new talent to serve the hedge fund industry. An interesting article appearing in the New York Times describes the latest BattleFin competition, called the Big Data Combine, where 382 teams from 43 countries have been given a data set of stock […]
The demand for big data professionals is far outstripping the supply. There is a shortage of people trained in big data, statistics, business intelligence, and data analytics. According to Newsfactor Business Report, by 2018 the U.S. could face a shortfall at 140,000 workers. A recent survey by CareerBuilder found that “jobs tied to managing and […]
McKinsey has issued a 146 page report this month: Game changers: Five opportunities for US growth and renewal. According to them, Big Data will add $155 to $325 Billion to the US economy by 2020, which represents 0.8 to 1.7 % of GDP. Big-data analytics is a productivity tool. Data is captured everywhere from data […]
The World Economic Forum has just released a report on the impact of Big Data in international development. The amount of data in the world is exploding – large portion of this comes from the interactions over mobile devices being used by people in the developing world – people whose needs and habits have been […]