Big data and robotic process automation (RPA) might be relatively new concepts to people in the mainstream, but they’ve been integral to traders for over a decade. Financial types have long since understood the value of information and, as our collective capacity for collecting data has increased, so too has the number of tools at a trader’s disposal.
Big Data and Bots Come to the Fore
We have to go back more than a decade to see the start of automatic trading aka algo trading. As noted by The Business Professor, algorithmic trading was first introduced in the 1970s. With computers capable of processing more data than before, programmers were able to create products that could make trades based on mathematical models.