What is the fastest changing aspect of the financial modeling industry?
Answer: In the financial service industry, the fastest changing aspect is global securities innovation. As recently as twenty years ago, financial models were rather basic and innovation was at its beginning stages. Computers had come into Wall Street and corporate type firms, but the full power of computers had not yet been realized. What’s happened over the past 20 years is that computing power and network connectivity has shot up, and with it, so has access to information from across the world at your fingertips. With this increased computing power, financial models have become very sophisticated, with Ph.D. level algorithms and programs, computerized trading, and data analysis and decision-making in real-time. So, financial models have seen a revolution that continues till this day.
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