Sponsored forum: Putting big data into action

Supervisors and economists are increasingly required to deal with large volumes of data in their day-to-day work – some of which is unstructured and high frequency. Big data is maturing as a field and is becoming a core part of the work of central banks both in tracking the economy and overseeing the financial sector.

Central Banking convened a panel of experts to discuss how central banks and other supervisors can maximise the potential of data, while overcoming hurdles to its collection and deployment. With big data is becoming an unavoidable fact of central bankers’ work, the webinar offers valuable insights for those working with data who want to unlock the potential of this fast-growing field, and how central banks can operationalise big data, including technological needs, resourcing and organisational changes.

Key topics discussed include: 

• Trends in central bank data usage, including insights from the 2017 big data survey
• How central banks are putting data to work, both as banking supervisors and monetary policymakers
• Operational issues: handling, organising and deploying big data
• Advances in artificial intelligence 
• Data governance and seeking buy-in from executive level
• In-house systems versus private provider­ cost versus security
• The evolution of big data: what’s next for central banks
• Challenges central banks face in collecting, checking and analysing data, and how to tackle them

 

This forum is part of the Central Banking focus report, Big data in central banks, published in association with BearingPoint.

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