When it comes to Data Science, the most recurring topic is modeling. Quite a few articles out there talk about data preparation and only a bunch about how to communicate your results properly. However, there are hardly any dealing with the topic that we are going to cover today: data enrichment.
In this month's blog post, we are going to share a case study based on a project we did for one of our clients – a Slovak bank.
By now, most financial institutions have been familiar with data analysis for some time. One use case for examples is credit scoring. Money lenders, such as banks and credit card companies, have been using it for a couple of decades now to evaluate the risk of lending money to consumers and to mitigate losses. However, the recent arrival of new technologies and the rise of machine learning and Data Science brought along many new opportunities.
Whether you are from a startup or a big corporation, every company today has one problem in common. At some point, there is a need to develop your own analytic capabilities so you can leverage your data efficiently. While outsourcing and getting help from consultants can be a great way to get things off the ground, eventually it does make sense to have the dedicated people in-house. And voila, you are searching for your first Data Scientist.