At the inaugural Predict 2015 conference in Dublin’s RDS, we spoke to Dr Constantin Gurdgiev about the impact of big data on finance.
Dr Gurdgiev serves as adjunct assistant professor of finance at Trinity College Dublin and is also the co-founder and director of a number of financial services start-ups.
He has witnessed dramatic improvements in financial reporting over the past 15 years, and though he believes this has given us more understanding of where we are, it’s still difficult to tell where we will be.
While advantageous, increases in data and advances in the tools of analysis also introduce significant challenges, such as what Dr Gurdgiev calls “overconfidence bias”.
To counteract this overreliance on the insights that come from data, he warns that, “Data is not the end of it all. Data is just one of the tools.”
Words by Elaine Burke
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