Data science in Financial Services sector
Financial services companies are turning to data science for answers – leveraging new data sources to build predictive models and simulate market events, using NoSQL, Hadoop and Storm to exploit non-traditional data sets and store different data for future analysis.Sentiment analysis has risen into another valuable source to achieve several objectives. With sentiment analysis, banks track trends, respond to issues, monitor product launches and enhance brand perception. They make the most of the market sentiment data to short the market when some unforeseen event occurs