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We held our first ‘meet the data scientist’ event last night, where we brought together members from the IT and Finance and Management faculties with data scientists. The aim was simply to facilitate conversations, and thereby bring to life what data science is, different ways of thinking about data and the implications for accountants.
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The future of finance and accounting actually relies on data science. There are already many examples where data science is applied in accounting area. Some examples are: bad debt prediction and collection strategy formation.
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