Data science can be incorporated into financial modeling to help make the assumptions more robust, more accurate, and hopefully closer to an expected reality. Since data science is the study of how to extract information and insights from data (especially using statistics in this case), it can be very helpful for determining assumptions in models and performing sensitivity analysis to measure the range of outcomes as they change.
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CFI is the official global provider of financial modeling and valuation analyst FMVA Designation. CFI's mission is to help anyone become a world-class financial analyst and has a wide range of resources to help you along the way. In order to become a great financial analyst, below are some additional questions and answers for you to explore further: