The secrets of big data

Pattern recognition as an op risk management tool

Marcelo Cruz
Marcelo Cruz

The rapid development of big data technologies will provide unprecedented opportunities for research in operational risk. Very few fields currently provoke more excitement to quants than the potential of working with huge amounts of data and finding good use for it. For the novices, "big data" is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. Big data sizes ar