Sponsored forum: Evaluating big data capabilities in central banking

The Panel

David BholatSenior Analyst, Advanced Analytics Division,
Bank of England

Maciej Piechocki, Financial Services Partner, BearingPoint 

Iman van Lelyveld, Statistics Division, The Netherlands Bank and VU Amsterdam

While no single agreed definition exists, big data has already been heralded as offering a wide range of central banking applications: from nowcasting to modelling, to early warning systems and systemic risk indicators. For some it opens a new chapter in policymaking. Yet questions remain around where big data can add value to central banking in the near term, and the usefulness of what is undoubtedly exciting and revolutionary work must be balanced against potential pitfalls. 

This forum, convened by Central Banking and moderated by Central Banking’s editor, Christopher Jeffery, draws on the views of our three experts to examine:

  • Financial stability and supervisory applications
  • Direct uses in economics and modelling
  • Who should ‘own’ big data
  • Resourcing and budgets
  • Future developments
  • Operational challenges – gathering, structuring, storing and processing data

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

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