Big Data, Big Options: The Future of Data in iGaming and Finance

Big Data, Big Options: The Future of Data in iGaming and Finance

The Job Market / February 7th, 2019

It’s a techie’s world and we just live in it! It’s fast becoming impossible to go online without seeing words such as machine learning, artificial intelligence and big data pop up on a regular basis. As a matter of fact, these concepts have now become the basis of risk analysis, customer research, business decision-making and other components of smart tech strategy within corporations. All this is reflected in the growing demand for data scientists in many organisations, especially in both the financial sector and the iGaming industry. 

What Exactly Does a Data Scientist Do?

Forget everything you might have seen on Black Mirror or Mr. Robot – the term “data scientist” is often bandied about a bit too readily, leading most to put together an all-too-stereotypical image about what the profession actually entails. In truth, we are still in the early stages of truly understanding mass data; however, it’s safe to say that this will change over the course of 2019 and beyond. In the near future, no projects will be undertaken by a company without first analysing data trends surrounding consumer habits.

Tech Nerds Shall Inherit the Earth: The Future of Finance Relies on Data Science

With the evolution of cloud computing and other technologies – both mature and emerging – the financial world has benefitted from increased efficiency, improved productivity and reduced costs. Blockchain and AI have also optimised various other processes by helping to make predictions and providing real-time data analytics.

However, simply having the right technologies is not enough; a company needs to employ the right talent in order to use them effectively. The increasing need for such a skillset has led to the creation of new roles within finance, such as market makers, scenario planners, social/behavioural scientists and data scientists. In the meantime, traditional finance roles are expected to evolve, with at least a general understanding of data science skills.

We, for one, welcome our tech-wizard overlords.

We Need to Leave These Puns a Loan: Data Science and Banking

Formerly a trend and now a necessity, data science has now become crucial for banks to keep up with competition.  From improving performance to making smarter decisions, big data technologies are being utilised by the banking industry for personalised marketing, real-time predictive analytics, fraud detection and customer support. You name it, data science does it!

And What About the Future of iGaming?

Big bucks? You bet (pun intended) – and even bigger data, or at least, that’s what the industry experts are claiming. iGaming has exploded in practically every region across the globe; last year, the iGaming sector in Malta alone was estimated to be worth over 12% of the local GDP, which amounts to over €1.2 billion. And Big Data has become a prime business tool in the rapid growth of this booming sector, with a growing demand for data scientists to interpret volumes of digital information.

So, what are the functions of a data scientist in the iGaming industry? Taking them at a glance, they include systemising and processing data, structure, visualisation and revealing hidden patterns and relationships. Headhunters are busy snapping up individuals who possess technical skills such as SQL, Python, GPU Technology and Data Science Frameworks (Apache Spark, keras and tensorflow).

Above All, Curiosity is a Data Scientist’s Best Friend!

Technological skills are all well and good, but as anyone in data science knows, curiosity is the greatest quality any ambitious data scientist could have – converting code lines and numbers into cool and interesting projects requires quite an impressive imagination!

If you are a data scientist looking to explore your options, get in touch with us at Boston Link. We’ll assign one of our experienced and friendly consultants to help you out and find you the perfect job position.

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