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AI in Banking – 4 major pain points in the DACH region

by Barbora Janulíková, Business & Data Science Development Manager Despite the common thrashing German, Austrian, and Swiss banks often get at conferences relevant to the topic; they do put a significant amount of effort into adopting AI for meaningful use cases. However, as with all innovations, the financial industry is still dealing with some pain points concerning AI. 1.      Digital Washing – …

Applied Data Science Research

How Profinit combines scientific research with applications in finance by Barbora Janulíková, Business & Data Science Development Manager If you have been following Profinit for a while, you know that academic research is deeply encoded in our company‘s DNA. We only pick new colleagues with the best education in mathematical and technical sciences. Moreover, our consultants teach Software Engineering or Big …

Beyond Data-ism: Big Data and the Human Intuition

by Petr Hájek, Information Management Advisor What is intuition? The old ‘wisdom’ says that managers spend their budgets on data and analytics, but finally, they make decisions based mostly on their intuition. Intuition can be explained in many ways – some say that intuition is irrational as opposed to our otherwise rational way of thinking. Another explanation is that intuition …

Tips for a Data Science job interview

  1) Brush up on basic maths and statistical concepts You don´t want to stutter when asked about basic concepts such as ROC curves, logistic regression, etc. Can you explain the difference between supervised and unsupervised learning both to a child and a math major? Good!   2) Prepare a set of practical examples to illustrate your value Data Science is all about …

4 Facts about the Global Data Science Job Market

  1. Employers are often looking for a unicorn data scientist Everyone working in the field is well aware that the skill set a data scientist brings to the job can vary widely depending on the context. A combination of statistical background, coding knowledge, and business acumen are definitely required, but to find an individual that will have expert abilities in all three …

Book Review: The Book of Why – J. Pearl

by Zdeněk Veselý, Data Scientist at Profinit Why the why? As a statistician or data scientist, I want to answer many why questions. • Why are these customers buying the product? • Why are these patients not getting better? • Why is the number of defaults rising? • Why… And it seems there are many tools in my data scientist toolbox to …

The Rising Power Of Data Science

By Jan Hučín, Senior Data Scientist at Profinit Games & Computers More than 20 years have passed since the match that changed the history of chess. In May 1997, DeepBlue computer by IBM defeated the top chess player Garry Kasparov in a six games match. For a long time, one believed that winning at chess requires a particular type of strategic thinking that …

Will data science become automated?

by Dominik Matula, Data scientist at Profinit Full disclaimer: the author works as a data scientist and loves his job. Therefore, once robots take over the field of Data Science, he might lose his job and spend his last days being depressed. Or will he? Let’s not beat about the bush, looking back in time every profitable human activity has been automated. …

Best online resources for Data Science

Understanding Data science is becoming one of the most demanded skill sets in the 21st-century job market. Data are flowing everywhere in ever-evolving magnitude. Storing them is costly, and business better finds ways how to turn them into profit. In some industries, the so-called ‘trickle-down’ effect is slowly observable, as medium-sized companies are now trying to surf the Big Data …

Book Review: Code Complete by Steve McConnell

Let’s be honest: here at Profinit we really do like Steve McConnell. Our internal methodology of estimates is pretty much based on the principles listed in his book Software Estimation: Demystifying the Black Art. Moreover, we are always willing to defend the cone of uncertainty, and his programming bible ‘Code Complete’ has become an integral part of our internal career …