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Financial Data Processing in Big Data Platforms

Author

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  • Luben K. Boyanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

Today’s digital society generates more and more data on a daily basis in all areas of human activities, especially in the financial sector. Such data can be collected, stored, processed, and analyzed, providing serious analytical opportunities for the end users. A lot of such systems are implemented and work using cloud technologies, which have a number of advantages, but they use a pay-per-use model and thus are not very suitable for medium and small organizations, non-profit and academic institutions. In this paper, a system, capable of fetching, storing, and processing big data is proposed and tested with financial data. It uses an open-source component-based approach and can be custom-built and implemented in national universities or centers of competence/excellence. That can present unique opportunities to researchers and developers to use and work with Big data on economic and financial problems, to investigate dependencies, use large simulation and forecast models and analyze results, using the new technologies and Big data provided by them.

Suggested Citation

  • Luben K. Boyanov, 2021. "Financial Data Processing in Big Data Platforms," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 534-546, December.
    • Handle: RePEc:nwe:eajour:y:2021:i:4:p:534-546
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    File URL: https://www.unwe.bg/doi/eajournal/2021.4/EA.2021.4.03.pdf
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    More about this item

    Keywords

    Big Data; IT platforms; financial data; big data processing;
    All these keywords.

    JEL classification:

    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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