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Private and Open Data in Asia: A Regional Guide.
The field of data science rose to prominence with the promise that, by using data smartly, companies could make data-driven business decisions that would outperform the decisions made in a traditional setting. There is little evidence that could prove this causality; however, there are lot of memoirs in various industries stating that data science is indeed delivering its promise.
Since its inception, data science has primarly being used in learning about products and improving engineering. Silicon Valley tech companies embed data science as part of a product org (e.g., ad clicks, ad matching etc.). Investment and corporate banks would redefine the role of quants to be data scientists and learn a lot about their products (e.g., credit card fraud, risk analysis etc). Uber also has a core team of data scientists embedded in product, engineering, and growth. As Uber is revolutionizing how people commute around the globe, it has also taken a step to bring the promise of data science into its core strategic financial decision-making.
The strategy finance team within Uber is responsible for short- and long-term forecasts, vehicle finance, and pricing. The role of pricing at Uber is to determine the optimal pricing structure that maximizes demand, while simultaneously creating a level of supplier earnings such that there is enough supply to clear the market. Accurate forecasts of supply and demand help us not only determine the optimal pricing, but also efficiently allocate financial resources. The data science team within strategy finance is primarily responsible for not only understanding the math behind all this, but also developing scalable frameworks that help us understand this across over the 300 geographies in which we operate.
The primary objective of this talk is to:
Prakhar Mehrotra is currently leading a team of data scientists as part of the strategic finance group within Uber. Prior to joining Uber, he was a data scientist within Sales & Monetization finance at Twitter. He has an engineering degree from the California Institute of Technology.
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