Big Data and public finance sector

Abstract

The advent of new technologies and their “trivialization” of use have exploded the number of data produced. This exponential rise has enabled exploitation in decision-making through the use of new analytical methodologies applied in many different sectors. This gave birth to the concept of Big Data which has developed in an incredible way in terms of use as well as definitions and characteristics. The Big Data revolution and accompanying technologies such as artificial intelligence (AI) and machine learning (ML) have generated great interest in financial services since their inception. This has also prompted the public sector to adopt these technologies as best they can to take advantage of them. This paper present an overview of the Big Data phenomenon through a review of the literature and the evolution of its characteristics from its appearance until today in addition to emerging trends. It also deals with the use of Big Data technology in financial sector and especially in public financial sector.