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Getting the best value from your data

Engaging innovative techniques for analysing and managing data
In collaboration with industry, our researchers have developed a tool for regulators to monitor the financial market.
Professor Artem Prokhorov speaking with man at a financial institution

In Professor Artem Prokhorov's field of business analytics, innovative techniques for analysing and managing the vast amount of data accumulated by firms in their daily operations are essential, as technology increasingly pervades every aspect of our lives.

“The potential for engagement with our skillset is immense,” he says, and this potential seems to transition from publication to practice with remarkable ease.

An innate “intellectual curiosity” drives researchers like Artem in their quest for solutions. After being engaged by the Australian and Securities and Investment Commission (ASIC) as an expert witness in a federal court case, Artem started to think about how such regulators worked and the type of methodology they used.

“The project had to do with monitoring and surveillance of financial markets and stock exchanges for potential abnormalities. I kept thinking about whether there was a way to use the latest machine learning techniques to help in the task of monitoring.”

That led to trialling the use of dynamic time warping – a method that looks for irregular patterns in data and then applies it to surveillance data – with the assistance of PhD student Robert James. An investment bank and a software developer both became interested in the research, and the resulting collaboration led to the development of a new surveillance system. The software provides regulators and other market participants with a tool to monitor the financial market, improve efficiency, create a more level playing field for investors, and fosters economic growth.

The project offers a perfect example of how the interplay of exploration and practice can create a flow-on effect for new ideas and capacity for further application. This gives Artem a great sense of pride.

Stata's primary mission is to build a bridge between the theoretical frontier and the practical application and to make this connection as smooth as possible. Working with Professor Artem Prokhorov allows Stata to identify and understand the theoretical methods that have great potential applicability in practice."
Di Liu, Senior Econometrician at StataCorp

Professor Artem Prokhorov
Professor Artem Prokhorov
Academic profile