Big Data tentacles extend Internet financial backing big data into future trends

As early as 1980, the world famous futurist Toffler in his book "The Third Wave", the "Big Data" as "the third wave of the CLS movement." At the time, no one could have imagined that only more than 30 years later society would be fully in the big data age.

Perhaps ten years ago, "big Data" was just a word that a few people had mastered. But with the rapid development of Internet technology, the concept of large data has been popularized. Especially in the past two years, large data has been widely used in the Internet, finance and communication industries. And now the hottest Internet financial industry, as a combination of traditional finance and internet thinking products, but also its tentacles extended to large data. In this regard, there are insiders believe that the Internet financial relying on large data will be the future trend. "The Internet financial industry relies on big data to play a better job," said Wang Ningyuan, an IT industry researcher in the investment consultancy, in an interview with the Securities daily.

The electric dealer carries on the financing business according to the big data

Everyone is talking about "big data", what is the big data? Large data published in 2011 by the McKinsey Global Research Institute (MGI): The next area of innovation, competition and productivity is defined in terms of "volume of data", "referring to data sets that are large enough for traditional database software tools to capture, store, manage, and analyze." The so-called "big", MGI said it usually refers to the large amount of data to exceed the traditional data processing tools processing capacity, is the concept of relative and dynamic.

What can this massive dataset bring to Internet finance? "These large data have very high commercial value," said gang, vice president and chief scientist of Jingdong Technology at the 2014 International Data Conference recently held, "the finance that Jingdong uses big data to do, some like industry, some have Jing dong characteristic".

According to him, Jingdong in the beginning of this year launched a "Beijing-East White Stripes", that is, consumers can apply for a maximum of 15,000 yuan in the purchase of personal loans, and in 3-24 months instalments. "Frankly, you can overdraft, according to your past consumption record free consumption, the main function of this product is to enhance customer stickiness." In addition, Jing-dong at the end of last year also on the line called "Beijing Bao-Pui," the rapid financing business, "Beijing Bao-Pui is in fact the face of Jingdong above the merchants, suppliers, third-party businesses, a factoring products, it is characterized by these businesses, suppliers operating conditions, to develop a supply chain financial solutions. Our cost is very low, can do than the industry standard low nearly one times the cost of lending him money, and we can do very real-time, within three minutes from the application to the loan.

These operations are based on the Beijing-east platform has a large number of real transaction data, and rely on the vendor's transaction data, through these large data analysis to complete.

Peer-to-peer platform using large data for wind control

Large data play an important role in Peer-to-peer network lending. Peer-to-peer Network loan Platform Open Xin Loan deputy general manager Zhou Jihan told the Securities Daily Reporter, "Open xin loan Big data is very unique-we have mastered the provincial small loan Company's operating situation." As a result of the business model is a small loan company cooperation, all projects by the small loan company to review and carry out the full principal and interest guarantee, so the choice of small loan company is very important. Kai Xin Loan through the master of the provincial Small loan company large data, you can understand the small loans of each loan issued, "We can take this to the small loan Company's operation and its liquidity to make a good judgment."

Whether the introduction of large data will improve the operating costs of the platform, Zhou Jihan Frankly, this aspect of the upfront investment is indeed very large, "before and after adding up to invest nearly 100 million yuan in the inside, but this in the latter will reduce operating costs." Kai Xin loans mainly to large data for the field of risk control, "the most risk-prone situation with the data model screening out, on the basis of screening, we go to do offline understanding, you can reduce a lot of human costs, but also relatively good accuracy."

In addition, financial search platform Rong 360, vice president of research and Development and technology, said in an interview with the media that the 360 would build the relevant risk control model and analyze the user's behavior by grasping the Internet data, such as the user's trading data in the electric dealer, the user's activity record on the social networking site, and so on To make a preliminary credit risk assessment for the user. This is not only useful for banks, but also the 360 itself has accumulated a record of the user's loan, which is a good record for the user to apply for new loans and to select new loan Banks. In his view, "large data technology is the foundation of 360 core sales engine and recommendation engine, and it is also one of the basic technologies to solve the asymmetric information between banks and users and to audit low efficiency problems." ”

Contribute to the product innovation of Internet enterprises

It is worth mentioning that the combination of large data and internet finance is the most well-known classic case is Alibaba launched the balance treasure and entertainment treasure. Balance treasure is Alibaba in Alipay on the basis of innovation and production, relying on Ali large data cloud computing, through the user a large number of information analysis, and ultimately create a very "pro-people" of the Internet financial Wealth management products. And the Treasure of entertainment and balance treasure has the same, different is mainly for the film and television investment field.

In Zhou Jihan's view, big data on the Internet financial industry is very important, "the Internet financial industry must use the Internet to reduce the cost of risk control, so the so-called internet means is to rely on data analysis." Moreover, large data applications have many facets, and they actually involve a very wide range.

"The Internet financial industry relies on large data to play a better result", "through large data analysis, Internet financial companies will know which Internet financial products are more popular in the market, which is good for companies to follow their product innovations in a way that will fit the needs of the market," said Li Fangting, an IT industry researcher at CIC. To keep the product success rate at a higher level.