How Analytics in Bank is differ from role of Data Scientist?

datascience
banking

#1

I need to understand how the roles and responsibilities differ for Analytics in Banking and Data Scientist role.


#2

I Hope below two link will help you :

Link1
Link2


#3

Thanks @danidarshit for the link …Generally Asking do you think the Analytics we do in Banking without Big Data can be called as Data Scientist Role and Responsibility ?


#4

Risk Management and Portfolio Management are two main part of banking in which big data dose not play crucial role , just work on concept and application and rest will follow…

ATB


#5

@Arihant Ofcourse! Big data and analytics are related but they are not the same. If you apply statistical techniques/algorithms to any data, it can be called as data science role and responsibility.


#6

@HUNAIDKHAN2000 So Let me rephrase the question How much role Pure Big Data play in role of Data Scientist ?


#7

So Let me rephrase the question How much role Pure Big Data play in role of Data Scientist ?


#8

arihant it will depend on industry to industry , in healthcare Big data plays a big role and in some industry big data is of not much use . In baking also if they are maintaining the data properly Big data can be used otherwise you dont need big data.


#9

It seems to me the problem is solely of definition.

Big Data is defined as:

Big data is high volume, high velocity, and/or high variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization.

The Data Science definition is more sketchy and there is no consensus about it, so I’ll go with the Wikipedia one:

Data science is an interdisciplinary field about processes and systems to extract knowledge or insights from data in various forms, either structured or unstructured, which is a continuation of some of the data analysis fields such as statistics, machine learning, data mining, and predictive analytics similar to Knowledge Discovery in Databases

From the above definition, we can see that Data Science is not defined by the study of Big Data or not. Therefore, a data scientist is not required to deal with Big Data at all, although it might be a useful skill. If there is a “Big Data role”, it’s that of a data engineer, which is more closely related to gathering the data, preprocessing it, and setting up an infrastructure that is able to handle it.

Regarding the original question, I really don’t see much difference between Data Analytics and Data Science. For me it’s just a matter of tools used (SAS/Spreadsheets vs Coding) and predictive techniques (classical statistical learning vs “modern” machine learning).