Saltar al contenido principal

Complete los detalles para desbloquear el seminario web

Al continuar, acepta nuestros Términos de uso, nuestra Política de privacidad y que sus datos se almacenan en los EE. UU.

Altavoces

  • Foto de Dan Kellett

    Dan Kellett

    Chief Data Officer @ Capital One

Más información

¿Entrenar a 2 o más personas?

Obtenga acceso de su equipo a la biblioteca completa de DataCamp, con informes centralizados, tareas, proyectos y más
Pruebe DataCamp para empresasPara obtener una solución a medida, reserve una demostración.

From Data to Insights: Value Creation with Data in Financial Services

April 2023
Webinar Preview
Compartir

Summary

The focal point was the deep study of using data for business gain, especially within the financial services sector. Dan Kellett, Chief Data Officer at Capital One UK, shed light on managing large and complex data sets, stressing the shift from traditional logistic regression models to advanced machine learning techniques like gradient boosting machines. This shift not only improves predictive accuracy but also aligns with ethical considerations in data usage. The discussion also covered the significance of establishing a strong data culture within organizations, balancing short-term gains with long-term strategic goals, and the vital role of data governance and ethics, especially in a regulated industry. The webinar also discussed the essential skills needed for successful data projects, highlighting curiosity and understanding of the scientific method as foundational elements. Moreover, it addressed the challenges and opportunities in transitioning into data roles, advocating for continuous learning and mentorship. The audience engagement revealed common concerns about data quality, privacy, and the potential impact of AI on jobs, highlighting the changing and evolving nature of data science in the financial sector.

Key Takeaways:

  • The shift from logistic regression to gradient boosting machines can significantly improve predictive models.
  • Data ethics and governance are essential in financial services, ensuring data is used responsibly and securely.
  • Establishing a strong data culture requires both top-down and grassroots efforts within an organization.
  • Curiosity and the scientific method are key skills for success in data roles.
  • Continuous learning and mentorship are important for transitioning into data science careers.

Deep Dives

Data Model Evolution in Financial Services

In f ...
Leer Mas

inancial services, the evolution of data models is vital for enhancing decision-making processes. Dan Kellett highlighted the shift from logistic regression to more advanced models like gradient boosting machines. This transition, driven by advances in cloud computing and the availability of complex algorithms, allows for more detailed insights from large datasets. "Our move to gradient boosting machines has been a game-changer," Kellett noted, emphasizing the balance between algorithmic complexity and practical benefits. This shift not only improves model accuracy but also aligns with ethical data usage, which is essential in a highly regulated industry. The integration of new data sources and ensuring data freshness further refine these models, enabling better customer understanding and more personalized financial products.

Establishing a Data-Driven Culture

The significance of a strong data culture within organizations cannot be overstated. Kellett discussed the dual approach needed, combining top-down leadership support with grassroots enthusiasm among employees. He stressed the importance of aligning data projects with organizational goals to avoid the "ivory tower" syndrome, where data teams operate in isolation. "Connecting the dots is what is important," he explained, highlighting the need for clear metrics that reflect business objectives. This approach not only ensures the relevance of data initiatives but also enhances employee engagement by demonstrating how their efforts contribute to broader organizational success.

Data Governance and Ethics

In financial services, data governance and ethics are vital components of data strategy. The webinar detailed the challenges of managing data privacy, security, and compliance in a sector that handles sensitive customer information. Kellett emphasized the need for strict data governance practices, from data collection to end-of-life management. The ethical use of data is not only about compliance but also about maintaining customer trust and ensuring that data-driven decisions are fair and transparent. This is particularly challenging as new data sources emerge, requiring ongoing evaluation and adaptation of governance frameworks.

Key Skills and Transitioning into Data Roles

For those looking to transition into data roles, the webinar highlighted the importance of curiosity and the scientific method. "Knowing Python or machine learning is not enough," Kellett remarked, "but about asking the right questions and understanding the why behind data." Aspiring data professionals should focus on data manipulation and cleaning skills, which are foundational for any analysis. Building a network and seeking mentorship were also highlighted as essential steps in the changing field of data science. The discussion acknowledged the challenges posed by AI advancements but positioned them as opportunities for those equipped with the right skills.


Relacionado

webinar

The Future of Data Science in Insurance

Expert webinar with Regional Chief Data and Analytics Officer at Allianz Benelux

webinar

Driving Value Creation with Data Science in the Mining Industry

In this webinar, Anton Abrarov, the Head of AI & Data Science at Norilsk Nickel, explains how data is used to solve technical and business problems at his company and in the broader mining industry.

webinar

Data Science for Business Leaders

Here's how to build a high-performance data team aligned with company strategy.

webinar

Value Creation with the Modern Data Stack

Value Creation with the Modern Data Stack - Hosted by Yali Sassoon & Barr Moses

webinar

Effective Data Storytelling: How to Turn Insights into Action

Discover the three pillars of data storytelling - with expert Brent Dykes

webinar

Effective Data Storytelling for Financial Services

Learn simple communication techniques to make your ideas understood, whether you are speaking to a technical audience or a business audience.

Join 5000+ companies and 80% of the Fortune 1000 who use DataCamp to upskill their teams.

Request DemoTry DataCamp for Business

Loved by thousands of companies

Google logo
Ebay logo
PayPal logo
Uber logo
T-Mobile logo