Sponsored forum: Tapping into big data's potential

The Panel

Alastair Firrell, Data Scientist, Advanced Analytics, Bank of England 

Maciej Piechocki, Financial Services Partner, BearingPoint

Leif Anders Thorsrud, Senior Researcher, Monetary Policy Research, Norges Bank

Bruno Tissot, Head of Statistics and Research Support, Bank for International Settlements, and Secretary, Irving Fisher Committee on Central Bank Statistics

Central banks are increasingly tapping into the potential of big data for their macroeconomic analysis and to support financial oversight. But with growing data volumes come greater challenges – methods of handling the data are still in their infancy, and getting the right operational framework in place is crucial.

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

  • The results and analysis of Central Banking’s 2016 survey – the key findings, how big data and data governance in central banks have evolved and how application of big data in central banks has expanded over the past 12 months
  • How regulators are changing their views towards big data, and whether central banks will remain granular with data analysis
  • Operational issues and supporting infrastructure for large datasets
  • The in-house solutions central banks have in place, and whether they are effective
  • Whether machine learning is just another buzzword or if it can make a real impact
  • How to cope with massive granular volumes
  • What needs to change for big data analysis to gain more executive-level support
  • How central banks can address a shortage of trained staff

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

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