Finance

Data science has been used in finance, especially in trading for many decades. Investment banks, especially trading desks, have employed complex models to analyse and make trading decisions. Some examples of data science as used in finance include:

• Credit risk management: Analyse the creditworthiness of a user by analyzing the historical financial records, assets, and transactions of the user
• Loan fraud: Identifying applications for credit or loans that may be fraudulent by analyzing the loan and applicant's characteristics
• Market Basket Analysis: Understanding the correlation among stocks and other securities and formulating trading and hedging strategies
• High-frequency trading: Analyzing trades and quotes to discover pricing inefficiencies and arbitrage opportunities