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The gaslighting here 😵💫

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Thought this was interesting. Across 160 teams of researchers, just about all failed to make good life outcome predictions on things like GPA, evictions, layoffs, and others. Data followed 4.5k families across 15 years, with 13k features (varied over time). Haven't looked at it directly yet, but will be turning the docs and data inside out... In the meantime, authors claim this as showing the limits of ML. Oh, and it's published in PNAS, so you know there's some big publication energy there.
https://www.pnas.org/content/117/15/8398
Has anyone else begun to resent data science?
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Given that I’m working on automating millions of dollars in hours away I’m pretty sure you can find a use case.
@SM1 I work with deals teams as their embedded data analyst and I spit out my coffee lugging at this 😂👍🏻
Several of the important use cases in the area are around Transaction Monitoring and Financial Crimes, AML as well as Automated Onboarding. Not an expert in Audit but my guess would be finding anomalies and potential candidates for manual audit verification.
So you mean an in house DS team who are SME in Analytics partnering with other business/teams to do the analytics as & when needed ?
I haven't used either of them but Alteryx seems to be one of the Top 5 tools. I'll look into that & SAS. That helps.
My existing team's approach was to coach the regular audit teams to do more analytics approached audits but i am not too convinced on it unless they use a Tool that can be configured to spit out results for them; They learning & coding seems un attainable goal.
Given that DS is automating all of audit ... yes?
One part of it is that
Another part is using a good DA Tool to analyze larger chunks of data so get more data driven issues
That is the aim, but are clueless on how to get it done 🤦♀️ I do have IA background but i am a lil lost with how to go about the mix of both
Coach
RPA software is being used extensively in risk controls testing to cut as much manual labor as possible. In terms of data science the biggest area for this is within the AML and fraud detection space.
I believe they’re in house tools
That’s where I live
In which area are you living as in Audit/ Finance& Accounts?
How is your team structured & what Tools do you use?
Highly recommend reaching out to the Finance SAP team because a lot of the config they do relates to this. As for analytics and reporting on SAP side, happy to chat it through with you
I work in Deloitte’s internal Finance Analytics under Consulting - there are similar internal functions across Audit and Tax as well as at the green dot level
I’m in more of a BI role right now (in industry) and I’ve been doing a lot of automation just writing SQL scripts for the finance team. I’m not part of the finance team but they don’t have people with the technical skills so I’ve been helping them out. I like working with finance because it’s so straightforward. Low effort and very easy wins lol
I do report automation. Right now they manually run reports through TMS and WMS, export to excel, and do all the manipulation and visualizations in excel. I’m building reports in power BI by directly connecting to the data warehouse