CBS has launched its largest investment in financial research to date

90% of all the data ever produced was produced in the last two years.

With data growing at such exponential rates, traditional processing software is struggling to keep up.

This is where big data steps in.

Put simply, big data is larger, more complex data sets, especially from new data sources. These data sets are so voluminous that traditional data processing software just can't manage them, but they also hold great potential for the tackling of new (and increasingly relevant) global problems.? In the future, big data analytics will increasingly focus on data freshness with the ultimate goal of real-time analysis, enabling better-informed decisions

This is why the Danish National Research Foundation (DNRF) has invested nearly DKK 60 million into Copenhagen Business School’s new Center for Big Data in Finance (BIGFI), which opened on January 1st of this year.

BIGFI - a Center of Excellence - will seek to generate a fundamentally new understanding of finance based on the rapid increase in available data combined with the revolution in data science and computing power.??

The center will leverage unique datasets and the unique integration of research capabilities across markets and agents, to create a global hub for research on big data in finance.

- We want to assure that Denmark is at the front of Finance and Big Data. Big Data, AI and machine learning are emerging in all fields of research right now, and of course we won’t be the only ones looking into it. But I think we can contribute something really important,? says Lasse Heje Pedersen, Center Director of BIGFI.

One of many things the Center will be looking into is how investors make their decisions – are they rational or biased? As well as focus on relevant issues, such as how finance can contribute to the green transition and the promotion of stability and economic activity.

Read more here.