Theoretical Foundation of Big Data Finance

The application of data elements has a long history. The use of data elements in production, operations, and management activities helps people better understand and grasp the development trends of the real world, optimize the allocation of economic and social resources, and improve production efficiency and quality. Data elements are not only the fundamental components of big data but also an important source of it. The analysis and application of big data need to be based on data factors. Big data includes various types of data factors, including structured, semi-structured, and unstructured data. It is one of the hottest concepts of the twenty-first century and is considered a product of the “third industrial revolution marked by computers, communication technology, and the internet.”