Banking / Finance

Can the Bank of Canada harness the power of big data?

15th Aug `13, 10:18 AM in Banking / Finance

The potential of so-called big data – everything from real-time financial transactions to Twitter and Internet traffic –…

BDMS
Guest Contributor
 

The potential of so-called big data – everything from real-time financial transactions to Twitter and Internet traffic – is already being used to fight terrorism and sell products. This explosion of informal data could also be tapped by the Bank of Canada to help set interest rates and produce more accurate forecasts, according to an article in the bank’s latest quarterly review.

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