Goldman Sachs figure shows just how much financial data is a goldmine

www.businessinsider.com

Goldman Sachs spends about $400 million each year on buying data from third-party sources, according to one executive's estimate. That figure includes simple things like the data used by investment bankers to value companies and industries as well as more complex datasets such as credit-card transactions or real-time closed caption feeds from television stations across the globe, he said.

Increasingly seeing more banks create unique groups focused on monetizing data assets within the bank.

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