• Alastair Majury

Data Science Enhances Financial Trading in Two Big Ways

Financial trading is all about maintaining an edge and keep an eye on financial trends. Technology has delivered ways to move faster and absorb more information, but it has to be done elegantly.

What does that mean? Sharing information and filtering information without losing sight of the original goal. Here are two areas of tech that are enhancing financial trading in great ways.

Trade Collaboration with Better Data Delivery

Having great data and communication with great minds are good, but the tools to get together aren't always convenient.

You could have the greatest minds in finance and industry trends at your disposal, but someone will always be busy or away. Even if your greatest rival was willing to let you have a win, it doesn't matter if the information doesn't get to you in time.

The modern world of tech has changed collaboration for the better. Better ways to chat, talk, get face-time, and truly share information as if you were in person and with your own data available is getting closer.

The biggest barricades to collaboration progress has been making it easier to share data. Sharing data can be frustrating, especially for people who aren't great with tech. Even if tech is big today, there are still massive areas that don't require computer skills.

Today, apps like Slack, Discord, GoToMeeting, Trello, Asana, and Flock offer multiple ways to share information and stay in contact. Like anything else, there's no single "best" way; some tools may work for different minds.

It's not just up to leadership, or even to the best performer. As more tools become available, being able to understand--but not necessarily juggle--multiple tools is vital. A better tool for most people will eventually rise.

At least until someone else gets a bright idea for a collaboration app.

Machine Learning

Trading has always been about analyzing trends. While human interaction and insight will always be important, there will always be something that slips past your radar.

Once again, even having the best people at your disposal isn't enough if they're not available right now. With machine learning, you can gather more trends to keep on hand in case you need to act.

Machine learning and artificial intelligence go hand-in-hand. Machine learning allows data systems to figure out trends based on pre-programmed conditions, then fine-tune those conditions.

It doesn't mean starting with a computer's assumption. You can start things as simple as "look for markets that change at the same time" or "look for business that act before or after certain market trends."

The only wrong assumption would be looking at the wrong details, and while that can be a missed opportunity, it's not a complete loss. In the debate of machines versus humans, two camps are completely wrong:

1) People who depend entirely on tech as the best, new, smart thing. 2) People who assume that using tech means abandoning humans.

Humans do their best when they use tools, and their intuition doesn't go away when they use tools. Some humans may incorrectly throw aside their thinking skills, but training traders to use their own insight while keeping data handy is helpful.

For more information about the latest boosts in trading technology, contact a financial technology expert.

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