[2022 Asia Financial Forum] "In the Big Data Era, Importance of Analytical Tools and Trading Markets Increases"

Professor Mariam Paboudi, MIT Sloan School of Management

Mariam Paboudi, Professor of Finance at the Sloan School of Management, Massachusetts Institute of Technology (MIT), USA, is giving a lecture at the 2022 Seoul Asia Finance Forum held on the 26th.

[Asia Economy Reporter Minwoo Lee] There are calls for a framework to measure and quantify the value of the overflowing data, as well as a well-functioning data market.

Mariam Paboudi, a professor in the Finance Department at the Sloan School of Management, Massachusetts Institute of Technology (MIT), emphasized this point during her lecture at the 11th 2022 Seoul Asia Financial Forum on the 26th. Professor Paboudi stated, "Data has emerged as a core element of the modern economy, almost like the new oil, but understanding of the 'big data economy' still lags behind," adding, "This is because there is a lack of models to accept and interpret it." She explained that although data is pouring in, existing analytical models have limitations in interpreting it, and there is still a shortage of models to measure and quantify the value of data and datasets.

She particularly stressed that with the advent of the 'big data' era, concerns have grown not only about how much data we can access but also about which data to select. As the importance of data increases, differences between companies and industries have become more pronounced. Since not all companies gain the same level of benefits through advances in data processing technology, the 'average trap' becomes more evident.

She also viewed the importance of a market where data can be freely traded as growing even more significant. Professor Paboudi explained, "Companies can sell data and also use data from other companies," adding, "Companies voluntarily participate in this market, and policies encouraging data sharing can help activate the data market."

This content was produced with the assistance of AI translation services.