Firms Keep Mining Big Data in Search of Riches

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While industry participants remain divided over the true definition of Big Data and its potential uses in capital markets, the race is on within financial institutions to figure out how to best extract value from unstructured data and new datasets, according to a panel at last week’s North American Financial Information Summit in New York.

Damon Clemow, director at Bank of America Merrill Lynch Investment Banking told delegates that Big Data is linked every activity at his firm. “Everything we d