Can a data scientist become a quant?

No. Data scientists are not replacing quants. The role of a quant is still much more than just play around with data. There is a lot of analysis and deep math to do.

Do you need PhD to become a quant?

You don’t need a PhD to become a quant.

Do banks hire data scientists?

One, investment banks have a growing need for people who can mine and analyze big data in every business unit, from sales and trading to consumer banking to surveillance and IT security. In fact, even human resource departments at banks are now employing data scientists.

Should I major in data science or quantitative finance?

You can opt for something at the intersection of both fields. Quantitative finance is very much an area with in Data Science but with increased emphasis on applied mathematics topics such as Stochastic calculus.

Can I become a data scientist from my current job?

People from all sorts of backgrounds – IT, Sales, Finance, HR, Healthcare, etc. – they all want a piece of the data science pie. Let me first put your doubts to rest – it is entirely possible to transition into data science from your current line of work (or study).

How to transition into the field of data science?

If you are looking to transition into the field of data science, there is nothing more important than having the right plan and guidance. This is usually lacking from the general ways of learning (certification courses, blogs, tutorials).

What are the best data science techniques for Finance?

If you possess such training, then understanding techniques such as support vector machines, neural networks, random forests, and gradient boosting are merely a hop, skip and jump away. I also recommend checking out this article which talks about the applications of data science in the finance industry. 3.