Data Science in the Financial Market: Transformation and Opportunities

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When it comes to the financial market , especially in relation to the performance of companies, data has gained a prominent place in recent decades. And it is no wonder: if well processed, it can offer a series of relevant information and make a huge difference in a business's decision-making.

However, it is necessary to find ways to deal with them, especially because, with the indonesia phone number list of digital, the possibility of production has more than tripled — according to IDC , by 2025, 175 zettabytes of data will be produced. It is in this context that Data Science comes into play.

Today, we will show you the importance of Data Science in the financial market, explaining what it is, the advantages of using it and the aspects necessary for data-based financial management. Check it out!

What is Data Science?
Data Science did not emerge on its own. It is a concept linked to Big Data and can be considered a way of managing data, extracting and interpreting it in order to transform it into relevant information. Its use is very common in companies, both to improve their processes and to make this solution available to other companies.

How does Data Science apply to the financial market?
The first thing you need to understand about data is that it is an infinite resource. That is, it is always being produced, even in a completely raw state. As we have already mentioned, today, it plays a key role for most companies.

In Brazil, for example, they serve as a guide for decision-making and make all the difference to the success of the business. Most unicorns, such as Nubank and Creditas, use strategies and tools based on Data Science to be able to operate in the financial market.

Many of these companies work with a huge volume of data, trying to find the best ways to understand the market and, most importantly, to guarantee solutions that are aligned with their customers . Thus, whether through data storage, processing or interpretation, they are able to obtain greater profits and longevity.