Episode 185: Gamers Tech and Data Mining

This week, Wei-Shen and Tony talk about two features recently published on the website. The first, written by Wei-Shen, is on how video game technology can be applied in the financial industry and some of the challenges there. The second feature is written by Rebecca Natale, our reporter based in New York, calling out data mining for what it is, and the importance of having a plan when dealing with alternative data. https://www.waterstechnology.com/technology/4858766/game-on-can-the-video-game-industry-teach-banks-something-about-visualization https://www.waterstechnology.com/data-management/4867276/data-mining-is-bullsht-an-examination 2:00 – Tony shares some of his thoughts on Bank of America’s approach to using gaming technology and the ongoing work on its prototype. 6:00 – Then, Wei-Shen talks about some of the similarities between professional gamers and traders. 10:30 – Where’s the balance between new edge technology and the risk of information overload? 16:00 – Then, they discuss Reb Natale’s feature on data mining and some of the existing challenges in approaching alternative data. 20:30 – Tony talks about how the buy-side is getting frustrated with promises from alternative data providers. 22:00 – Firms should have a plan, and talented people to work with alternative data, as well as the mindset of failing fast and moving on quickly. 23:30 – They talk about how humans have a natural need to make connections with data and how alt data providers take advantage of this. 26:30 – Wei-Shen and Tony wrap up chatting about their collaborative playlists on Spotify.