The financial industry has long been a staple of Canadian industry. TSX, Canada’s largest stock exchange, is the 9th largest in the world, and Canada’s big 5 banks have long been regarded as some of the most stable worldwide. Though financial growth has been slow in Canada over the past few years, due to incredibly low interest rates and the lagging price of oil, pundits forecast a resurgence of the oil and gas industry in 2017. If this prediction comes to pass, the financial industry is sure to experience a similar uplift.
As is the case in many sectors throughout Canada, the dominant trend in finance and accounting is the integration of digital tools and data analysis. The ability to analyze big data is rapidly becoming a chief responsibility in many finance jobs. Finance professionals are expected to be technically savvy, using digital tools to decipher and parse data from a variety of sources. With the aid of software, financial professionals develop financial forecasts and create strategies to promote growth and increase profitability. Big data and predictive analysis have become a cornerstone in the success of many of Canada’s largest organizations.