Accuracy in big data may lead to more confident decision making. [Photo/IC]

Big data

Big data often refers to the use of predictive analytics or other certain advanced methods to extract value from data, and seldom to a particular size of data set. Accuracy in big data may lead to more confident decision making.

At several forums held during the conference, the term was highlighted by officials and business leaders.

Jin Liqun, president-designate of the Asian Infrastructure Investment Bank (AIIB), said that big data can help AIIB staff analyze member country's infrastructure requirements in an accurate and scientific way.

Wu Xiaoling, vice-chairperson of Financial and Economic Affairs Committee in NPC, said that the utilization of big data has been treated as national strategy by many countries and effectively using big data can facilitate financial service costs.