Elena Ginina, Data Science expert of VRVis, as well as the Visual Data Science researchers Manuela Waldner and Hsiang-Yun Wu of the TU Vienna, held a workshop lasting several hours, which was specially designed for banks and insurance companies. The aim was to point out the latest developments in the field of Data Science: By combining techniques from Statistics, Computer Science and Visualization, Data Science can provide much more for the financial industry than standard Business Intelligence solutions.
Of course, the focus was on concrete financial use cases: Innovative approaches in connection with Churn Rate Control or Fraud Detection were presented. Furthermore, current research results in the field of Visual Data Science were discussed, which improve the transparency of Machine Learning algorithms. In addition, the three Data Science experts gave insights into new methods for Visualization and Interactive Exploration of complex relationships in large data sets, since explainability is naturally of great importance in the financial sector. During the discussions after the short presentations, the researchers explored competitive potentials and possible projects in conversations with the participants.
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