In this video, Professor Larru introduces the concept of big data and its profound impact on the financial world. He delves into the historical background of big data, tracing its origins to the early 2000s when it was defined by Garden Analyst Doug Laney as a three-dimensional challenge encompassing increasing volume, velocity, and variety of data. Larru highlights the significance of big data technologies in driving innovation within the finance industry, emphasizing their role as the foundation for many products and services. He explores the complexities inherent in big data, including the need for new technologies to manage vast and diverse datasets effectively.