Ukrainian IT students place third at international competition in data analysis

 

More, Science and Innovation, Ukraine

Source: tvoe misto
Translated by: Christine Chraibi

A team from the Ukrainian Catholic University in Lviv placed third, won $14,000, and also came up with a program to help the Bank of Montreal to better sell its investment products and earn 5% income.

The students, all enrolled in the Master’s Program in Data Science at the Ukrainian Catholic University, took third place in the finals of the International Queen’s Innovation Challenge, open to all students of bachelor and master’s programs. Seven top Canadian companies – Scotiabank, RBC, TD, BMO, Spirit of Math, Loblaws and Canadian Tire – delivered information about their company to the contestants and a request to help them solve a business problem through data analysis. Before, only Canadian students could take part, but this year the competition was open to everyone.

 “We chose the task presented by BMO (Bank of Montreal), one of the four largest Canadian banks. The aim was to analyze funds deposited on user accounts and identify anomalies. These anomalies interested the bank as possible sources for investment products that they could offer their clients. In simple terms, we searched for signs that a customer had enough funds to invest in a profitable long-term project.”– says Anatoliy Stehniy, a member of the winning team.

2

In addition, the bank wanted to establish optimal contact strategy for customers who might be potential investors. Therefore, the Lviv team developed several approaches to finding such anomalies and gathered them together in one algorithm.

“Then, we created several models for selling an investment product on the basis of past data. At the last stage, we optimized the customer target group to whom the bank should offer a product as part of CRM (Customer Relationship Management). We simulated sales using Monte Carlo methods for different target groups, and selected the one that would most increase sales.” – added Anatoliy Stehniy.

Other university teams taking part in the competition included students from Carnegie Mellon University, Smith School of Business MMA, Queen’s University, etc.

Source: tvoe misto
Translated by: Christine Chraibi

Ukraine needs independent journalism. And we need you. Join our community on Patreon and help us better connect Ukraine to the world. We’ll use your contribution to attract new authors, upgrade our website, and optimize its SEO. For as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

Tags: , , , , ,