The document discusses the critical role of domain experts within data science teams, emphasizing their ability to translate complex data into actionable insights for decision making. It highlights the importance of applying the scientific method and leveraging diverse data sources to enhance organizational understanding and collaboration. Additionally, it raises a concern about financial losses due to fraud in the industry and suggests the need for effective data science strategies to mitigate such risks.

1. Mathematicians
& Statisticians
Computer
Scientists
Domain
Specialists:
Finance
The data science team—particularly
the domain experts, because of their
versatile skill-set, plays a pivotal role
in translating the unlocked insight into
actionable intelligence for smarter,
data-driven decision making.
Big Insight
The scientific method—observe, question,
hypothesize, test, and analyze—is the
foundation of an emerging discipline—
data science—to create value from data.
This analysis and creativity is ultimately
enabled by the team’s ability to rely on
elements of machine learning and statistics
to search the data, empowering the data
science team to interpret the results.
Apply the Scientific Method
& New Technologies
GO
The ability to fuse disparate, seemingly
unrelated data— like financial transaction
information, payment records and exchange
rates— can produce an entirely new level
of insight and direction.
Two-Way Bridge
Rotating the team’s domain
specialists every six to nine months
builds a stronger understanding of
the mission organization-wide.
Diversity of Data
An enormous amount of valuable information is out there—waiting
to be transformed into mission-driving insights. But to excavate
those insights, we must first assemble the right data science team.
The right data science teams blend the technical expertise of
computer scientists and mathematicians and statisticians with a
critically-important, but overlooked, element—domain knowledge.
The result: organizational collaboration and vision into the most
important business problems or trends that data can reveal.
BIG
INSIGHT
BUILD YOUR
DATA SCIENCE TEAM
MINE FOR INSIGHT
Financial services firms lose an estimated
$20 billion annually to fraud. How can this
industry leverage big data—and the data
science team—to help manage risk and
deter fraud in the future?
The Problem
Insight
Organization END