What role does big data play in the development of Internet finance?

Since Internet finance has been widely publicized, everyone has been instilled with the great role of big data in the development of Internet finance. Even recently, some experts said that big data is an accelerator for the development of Internet finance. But there seems to be no systematic statement. What is the specific purpose of big data? We only know that Internet finance is indeed one of the beneficiaries. Let's listen to Jin Lifang analysts.

Let's first have a simple understanding of big data from the meaning of Internet finance. As Xie Ping, the father of Internet finance, said, the so-called Internet finance is not a simple superposition of Internet and finance.

The correct understanding should be the special technology based on Internet application, which has given birth to brand-new business models, products and services and brought about subversive changes in the financial field. Among them, big data has played a very important role. Next, let's take a look at the role of big data in the development of Internet finance.

Accurate user analysis

The primary role of big data is to accurately analyze users, and then help Internet finance find suitable target users, thus achieving precise marketing.

At present, in the field of Internet finance, many emerging enterprises mainly make loans or financial derivatives. Its main selling point mainly lies in higher investment income or lower handling fee concessions. However, in the increasingly competitive market environment, enterprises that fail because they cannot guarantee the stability of capital flow or the stickiness of customers can be seen everywhere.

According to relevant data, by the end of 20 13, there were 450 P2P companies in China, some of which even went bankrupt within a few days of their establishment. On this basis, achieving precision marketing is the only way out for these enterprises, which is also the role of big data.

Although the development of Internet finance is still in its infancy, there have been quite a few mature cases. For example, you can view the financial websites that users have visited recently through directional technology, and build a user model through keywords and browsing data, so as to optimize the real-time recommendation frequency of products and maximize the effective users.

Help financial enterprises to prevent and control risks

In addition to the above-mentioned primary functions, big data can also help financial enterprises to strengthen the controllability of risks. In terms of refined management, it has boosted the development of Internet finance, especially credit services.

For example, through the analysis of a large number of online transactions and behavior data, it can provide a reliable basis for users' credit evaluation. These credit evaluations can help financial enterprises to make more accurate conclusions about users' willingness and ability to repay, so as to decide whether to continue to provide users with fast credit or cash installment services. So as to minimize the operating risks of financial enterprises.

Of course, our evaluation of the credit quality of individual users or enterprise users depends on many factors, but we can also find corresponding data from these factors. For example, if we want to find the overall income, fixed assets, personality characteristics and even behavior habits of this user, then we can get it from online banking, e-commerce, social networks, and even recruitment and matchmaking websites.

The key point of big data is that these so-called data often exist in the form of dynamic variables, and in order to obtain accurate credit rating on this basis, we must rely on the continuous analysis function of big data.

Through the above analysis, we also have to admit the great role of big data in the development of Internet finance, but in the initial stage of Internet finance, the exploration of the role of big data is not complete, and we can only find it step by step in the continuous development.