Data is Dominating Wall Street
Host TC Riley kicks off this installment of Diving Into Data, with a deep-dive into the recent data-centric boom on Wall Street. “There’s a data dominance going on. There’s a lot more data related things going on in the stock market than I think we’ve traditionally seen, especially as it relates to the companies themselves,” he said.
Snowflake and JFrog are two of the data companies to go under the magnifying glass. Snowflake is a cloud-based data-warehousing company that decouples storage and computation functions, which basically translates into a more easily controlled relationship between user expectations and costs. JFrog, on the other hand, is a DevOps platform that’s based in cloud functionality. Because of its cloud-based nature, the entire platform is easily customized and facilitates faster software releases.
TC pointed out that this data boom has indications for the future, saying “It’s interesting to see so many data companies that have these huge offerings. I think it points toward more and more people buying into the overall value of data long-term and where the business world is heading.”
On the topic of data companies, TC also talked about the challenges, and opportunities, of data in the healthcare industry. There are a lot of considerations that need to be undertaken in terms of privacy and possible misuse of patient information by, say, insurance companies when it comes to healthcare data, and TC mused about the potential benefits for the good of everyone in the future. “There is an opportunity to transform the way we think about healthcare data, and there’s not a perfect solution here,” he said.
To wrap things up, TC touched on how data could be used to prevent veteran suicides by transitioning from a bottom-up model that utilizes data gathered after tragic incidents to a top-down model that can identify triggers and conditions and preemptively stop the tragedy from happening at all. “I think it’s something we owe our veterans,” said TC.
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