Medialab Prado

Abstract:

"Network Science has been so far regarded mostly as a tool of statistical analysis. However, it is growingly understood as well as a methodological and conceptual approach to data processing, analysis and interpretation.

The social networking phenomena has had interesting and dramatic implications for network science namely because it made network representations widespread and better understood by the general audience. It also pushed the field’s boundaries while opening the door for a clear connection between the different disciplines that study and relate to it. At the same time new understanding of data has emerged: data is now understood as a mutating, ever updating and interconnected entity.

In this paper we will look at how different data analysis and visualization tools are being developed and how they can be used and applied within financial institutions. Furthermore, a critical view will be drawn to how the introduction of these tools is affecting policy, decision making processes and institutional discourses.

The paper will have both a theoretical and a practical perspective, resulting from the background research and hands-on work undergone while developing the data and network analysis software FNA - Financial Network Analyzer - and implementing its use in different financial institutions." 

Co author of the paper: Kimmo Soramaki