How promising is Big data (data science) in Finance

cjin0005's picture
Rank: Senior Chimp | 17

I am a student in Monash University. And I am applying the QTEM program which offers an opportunity for an exchange. My major is Master of Banking and Finance.

There are some courses related to Big Data and Data Science in Finance offered by HEC lausanne. I would like to know if Big data and Data science has their prospects in the field of finance and for me as a will-be employee with a master degree of Finance and Banking. Is it possible to use these big data analytic skills in my resume as a highlight?
As an alternative, University van Amsterdam also offers several courses related to Econometrics.
Which option is better?

Thanks a million.

Comments (17)

Jun 27, 2018

Big Data will be useful but in IB it's very role specific - you'll hard it use it working in M&A (support staff might) but will use it a lot in Quants. It depends what you see yourself doing later on.

Jun 27, 2018

Thank you for your reply. Do you think Econometrics will be a useful tool in IB?

Jun 27, 2018

Yes and No. Yes in that it will help with numerical skills (which is mainly what IB is about) and No in that a significant portion of the specific knowledge you learn won't be used per se. Honestly though, if you like it do it - since the courses offered seem to play a small role in the overall degree I would look at which you think you can market better at interviews. Big Data is juicier now-a-days and sells probably better than econometrics but choose what you enjoy studying.

Jul 4, 2018

PM me if you're interested I have some experience in this field. Work in s&t in Aus.

Jul 9, 2018

Big Data, machine learning, or general AI tools are more than useful in S&T/HF. Programming is more than fundamental, and with those skills you'll have the edge.

As a matter of fact, see how "the code breakers" like DE Shaw or Reinassance only recruit scientists and not economists.

On the other hand, I think is not that useful in IBD, while it certainly shows you have more than decent quant skills

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Jul 9, 2018

Thanks for your opinion. Do you think having certain level of QUANT skills (such as coding with Python/Matlab) are essential for working in Investment banks and hedge funds even though my major is in finance ?

Jul 9, 2018

Well it mainly depends: what is meant by investment banks? Investment banks could mean everything, from IT to M&A via ECM/DCM.

Let me follow through:

If IBD, this is not useful.
If S&T, then yes. Especially for trading

For hedge funds of course, it would be more than useful
AM follows

Jul 9, 2018
Jul 9, 2018

What about finance in general ex. being a financial analyst? I'm in a graduate finance program and am thinking of doing a concentration in analytics next semester. Can someone shed some light on this?

Oct 9, 2019