Using the panel data of A‐share listed companies from 2011 to 2020, we explore the effect of big data analytics (BDA) development on corporate financing constraints. We innovatively design quantitative indicators of BDA with the help of textual methods and found that BDA can significantly mitigate corporate financing constraints after a series of robust and endogeneity test. Moreover, BDA can promote the corporate's total factor productivity (TFP) and increase the financing capacity of corporation. Overall, BDA will significantly ease corporate financing constraints.