Data science is a vast field where experts extract useful insights with the help of data. Although it is a multidisciplinary field and has various applications, financial institutions can apply data science to predict what customers want and deduce ways to increase engagement. In this article, we discuss how financial institutions can leverage data science for streamlining their customer engagement levels.
What is Data Science?
Data science is a process for gathering insights from structured and unstructured data using strategies reaching from statistical analysis to machine learning. In every organization, data science is used to convert data into value in the form of increased revenue, decreased costs, business activity, enhanced customer experience, the promotion of new products, and etc.