Big data occupies a significant place in Internet finance

Internet thinking and Internet technology are two important parts of the Internet in the transformation of finance. These two are like the relations between worldviews and methodologies, which are mutually reinforcing and inseparable.

Internet technology from a deep, specific point of view can be divided into: big data, P2P networks and organizations on both sides of the market. Big data is one of the most important factors. Although finance has no physical physical production, warehousing, logistics and other processes, it itself is the production, warehousing, mining, transmission, analysis and integration of data. So big data for finance, is a very important seat.

Big data is the three pillars of thinking, technology and data. Big data not only refers to the large-scale data, it is first of all a way of thinking changes, followed by the processing and application of these data, data, processing technology and application of a unified one of the three processing technology, and finally, big data The premise must be ample interoperability of the data itself.

Big data thinking will change the traditional thinking of financial operations, which first of all it will change the mortgage financing of credit and credit industry to promote the realization of credit possible and mainstream. In particular, China's financial sector has a deep-rooted mortgage culture and is heavily reliant on mortgages in the process of lending. This is a very important reason why SMEs can not get loans. The mortgage culture makes it easier for lenders to think in terms of considerations. The lender's core consideration is to determine the value of mortgages, to ensure that there is a corresponding value of space. For example, the value of 200 million real estate, then hit a 7 fold, as long as the guaranteed value does not fall too much, then there will be no risk. House prices do not fall, the risk is not; falling house prices, but also the country's affairs, and banking institutions has nothing to do.

In the long run, the mortgage culture has a very negative impact on the development of the financial industry. To make the real change is to strengthen the credit loans, the establishment of credit mechanisms. True security is not collateral but people's credit. We talk about the financial impact of big data, we must first have the cognitive changes in thinking.

Credit can not be seen or touched, but the way big data helps to restore the credit profile of one or even a group of people makes the credit of individuals or groups of people glittering and within reach. This will be a fundamental change and have a huge impact. Big data examples of applications, people talked about the practice of weather forecasting - no one can accurately predict the weather, because the variables too much, big sun to the moon and stars, medium to ocean atmosphere, small environment However, meteorologists, through the analysis of meteorological big data and the parallel processing technologies, have made it possible to find the law from the data and realize a more accurate weather forecast. Personal credit assessment and the realization of weather forecasts have very similarities, a person or group credit depends on a lot of variables, and credit itself is not static, but a dynamic manifestation of behavioral characteristics - assets, income, Consumption, personality, habits, social networks and so on will have an impact on credit. Individual credit is formally determined through various acts, but the act of reflecting one's credit is not without law. Through big data, we can collect, collate and analyze a great deal of credit behaviors of individuals or groups well. When we put these together, we will find many objective laws that make people's credit three-dimensional, Estimated group credit.

Internet technology innovation itself has also made big data possible. The development of technologies such as cloud computing, SNS and mobile Internet has made mass data production and connectivity become a reality. The development of unstructured database technology has greatly reduced the data collection requirements. The development of storage technology has enabled large-scale data storage to be realized Realization; parallel processing calculation, making the data can be high-speed processing, faster access to results, applications; various algorithms, the maturity of machine learning and so on and further promote the development of big data applications. So, instead of storing the sample data, we can store all the data, and we can put the granularity from the whole to the individual. These also bring a series of changes -

- Market concentration is higher. The development of IT technology, the extension of the Internet and the application of big data have allowed the market to get rid of geographical restrictions and enable larger enterprises to grow faster. The technical breakthroughs in big data also make the Matthew effect more obvious - the stronger the stronger, the bigger the bigger. If we are still limited to geographical advantages, can not effectively form the management of massive users and good data assets, then the future core competitiveness will be severely weakened.

- To promote the openness of finance, big data must first fully online data. Now too many systems are isolated, such as many public utilities data, even if the bank itself a lot of business, such as corporate business, private business, card business are separated from each other is difficult to form a linkage effect Moreover, the decision not only the credit itself Is the financial data, many other areas of the data will have an impact, which requires more open data. However, these data can all be interconnected through the Internet. The Internet is inherently open and transparent, making the application of big data possible. The traditional financial industry is bound to change as a result.

- Finally, the data itself. Since it is big data, there must be enough large amounts of data, which is the premise of all predictions. How to gather enough information before forecasting becomes the key to predicting success.

Everything can be "quantified" and at an accelerating rate, the development of IT technology has enabled large amounts of data to be quantified for decades.

The use of big data by internet finance is inherently advantageous. The Internet can capture the behavioral information of individuals or groups needed for credit evaluation to the extent allowed by law and morals and provide such complicated information to the Big Data Operating System to process and evaluate the individual's or group's credit worthiness . From this perspective, P2P has unique advantages in the use of credit big data. Because of the market characteristics of P2P, it determines that it can cover more users and at the same time makes full use of the characteristics of all people organizations to allow Users generate their own data, in order to achieve self-generation and recycling of data. Making "an inexhaustible" data innovation a reality.

While the changes brought by this big data are still early days, we can clearly foresee the financial impact of big data - financial services will move further from extensive to refined management. A more comprehensive credit system and risk management system will be established from a mortgage culture to a credit culture; a transition from "profit-centered" to "customer-focused". From "Focus on the Whole" to "Focus on the Individual".

We can also foresee that Internet finance, big data finance, which can really bring about change, must be driven by companies that are well versed in Internet thinking, based on microfinance services, involving massive users, focusing on data assets and patiently implementing long-term strategies. Only in this way is it in line with the trend of big data in order to have long-term core competitiveness.

Original link: http://www.huxiu.com/article/21290/1.html

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