DATA SCIENCE BUSINESS CASE STUDIES
The creation of a new Finance Professional is no longer a choice; it is a necessity. With rapid advances in new technologies — such as Robotic Process Automation (RPA), Analytics, Artificial Intelligence (AI) and Blockchain — finance professionals need to understand the importance and use of key emerging technologies. These technologies present opportunities to reimagine and re-organise the finance function in organisations.
With this new reality upon us, the Trinidad & Tobago International Financial Centre (T&T IFC) – which is tasked with developing human capital within the local Finance & Accounting (F&A) Business Process Outsourcing (BPO) sector – partnered with Incus Services and UWI-ROYTEC to launch a pilot Data Analytics and Data Science training programme earlier this year.
After the successful completion of the Data Analytics and Data Science training in June, 22 graduates from the Data Science programme advanced to complete a three-month internship. This internship allowed them to apply their knowledge to practical business scenarios in companies from different sectors across Trinidad & Tobago.
On Tuesday 29th September 2020, the participants wrapped up their internships with a presentation of their Business Case with key learnings and recommendations to a panel of industry leaders.
In each business case, the participant identified a problem with the organsiation and used the data and tools provided to analyse the data and provide possible solutions.
Participants conveyed their satisfaction with the programme, stating that “although they were unsure of what to expect, the course exceeded any expectation they had.” One of the participating organisations, Trinity Exploration and Production, saw immense value in the findings and recommendations of the business case and hired a data scientist as a result.
Overall, the interaction with the participants and the companies proved beneficial as this highlighted the need for companies to collect and manage their data more effectively. One of the key learnings for everyone was that data science can add value to any business that is able to use their data well.