A ‘data revolution’ is making data science impossible to ignore. For an expert take on this incredibly powerful tool of the (literal) trade, Signal Centre CEO Steve O’Hare sat down with Acuity CEO Andrew Lane.
“For me it’s really a giant leap forward because I think that merging or fusing different types of analysis together is key,” Steve explains. While other, older methods of information analysis and intelligence are still valid, a world without data science might be like- as Steve puts it- “fighting an army of robots with a bow and arrow.”
For a primer on what data science is and what it could do for you, keep reading or check out the full video:
Data Science Basics
The web is an incomprehensibly massive knowledge base of information, most of it overlooked. By turning pictures, videos, text, and numbers into accurate quantitative data that machines can crunch, Acuity’s AI-powered tools can make sense of it- and make use of it.
“In a nutshell, we’ve got a huge amount of data out there and data science is the science around how we manage that data,” says Andrew. “What we do with it, and how we ingest it.”
Andy goes on to explain that data science has a ‘life cycle.’ Data must be captured, maintained, processed, analysed, and then communicated. The last step is his personal favourite, as there’s a real skill and art to data communication.
“The data science side of things is very interesting to us, because we can apply those analytical skills onto numbers that have come from the news stories themselves,” shares Steve. “Having access to that in an almost lightning quick reflex is really key to moving forward.”
Real-World Trading Applications
Data science isn’t new to the finance world. Think of quantitative science: Quantitative traders have long used ‘quants’ (basically data points understood through algorithms,
