The Big Deal about Big Data

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 16 June 2016

⏱️ 27 minutes

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Summary

Armen Avanessians, chief investment officer of Goldman Sachs Asset Management's Quantitative Investment Strategies team, discusses how big data can help investors make smarter, better informed decisions. This episode was recorded on April 26, 2016. The views and opinions expressed herein should not be construed as an offer to buy or sell any securities and such views/opinions may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates. This information may not be current and Goldman Sachs has no obligation to provide any updates or changes. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by any Goldman Sachs entity or individual to that listener, nor to constitute such person a client of any Goldman Sachs entity. The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk. Copyright 2016 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is exchanges Goldman Sachs where people from our firm share their insights on developments
0:13.1	currently shaping markets industries and the global economy.
0:16.4	I'm Jake Seawert, Global Head of Corporate Communications here at the firm.
0:20.8	More data is being produced today than ever before and big data is creating new opportunities for companies all across the world.
0:27.0	I'm joined today by Armin Avanesians, chief investment officer of Goldman Sachs Asset Management's Quantitative Investment
0:34.9	Strategies team to discuss big data and its implications for industries and markets.
0:39.2	Armin, welcome to the program.
0:40.8	Thank you, Jake.
0:41.8	So to kick it off, Armin, can you give us a broad overview of big data help us
0:46.0	understand the scale of it and where we are in the trajectory of
0:50.7	course Jake to understand the scale and where we are, I think it's useful to understand where we've come.
0:57.0	Now using data to make decisions has been with us as long as we've been human. I mean driving general
1:05.4	principles from specific observations is the core of inductive reasoning.
1:09.9	It's the core of human intelligence.
1:12.6	Okay, so inductive reasoning's been around forever.
1:14.6	What's new?
1:15.8	Well, what's new is this term called big data.
1:19.2	It only was coined in the late 90s,
1:22.2	and it really took off in the middle of the last decade and
1:25.9	what was it what happened well really it was born from the
1:33.0	internet basically made data available
1:37.0	to a wide group of people, a large amount of data available
	...

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