CONTEMPORARY DATA SCIENCE FOR FINANCE STUDENTS. ESSENTIAL FEATURES OF COMMONLY USED STATISTICAL SOFTWARE - A COMPARATIVE STUDY

Abstract

This paper inventories some of the essential traits of the software preferred by researchers, students and professors, such as R or RStudio, or Matlab and also their possible utilizations. In order to fill the gap in the Romanian literature and help finance students in choosing proper tools according to the research purpose, this comparative study aims at bringing a fresh, useful perspective in the relevant literature. In Romania, the use of R was the focus of several international conferences on official statistics held in Bucharest, and others having business excellence, innovation and sustainability as purpose. In this time, at global scale, R and Python programming languages are considered the lingua franca of data science, as common statistical software used both in corporations and academia. In this paper, I analyze basic features of such software, with the purpose of application in finance.

Keywords

• software
• programming language
• data science
• r
• rstudio
• features
• matlab
• statistical