Summary of Irene Aldridge & Marco Avellaneda's Big Data Science in Finance

Please note: This is a companion version & not the original book. Sample Book Insights: #1 Radio-Frequency Identification, or RFID, chips are embedded in almost every product you can buy, and are used to collect data about your shopping preferences, habits, and lifestyle. #2 Big Data is not just affecting financial organizations, but all corporations. The amount of data generated by financial institutions is at a record-setting number, and yet few portfolio managers have the skills to process it. #3 Big Data Finance is not just opening doors to a select group of data scientists, but also an entire industry that is developing new approaches to harness these data sets and incorporate them into mainstream investment management. #4 The demand for Big Data scientists is growing, as companies realize the importance of efficient Big Data operations.
According to Business Insider, US bank J. P. Morgan has spent nearly $10 billion dollars just in 2016 on new initiatives that include Big Data science.