Bank of America uses R for reporting

June 23, 2014

(This article was first published on Revolutions, and kindly contributed to R-bloggers)

A recent FastCoLabs article, "The 9 Best Languages For Crunching Data", starts its list with the R language:

It would be downright negligent to start this list with any language other than R. It has been kicking around since 1997 as a free alternative to pricey statistical software, such as Matlab or SAS.

But over the past few years, it’s become the golden child of data science–now a household name not only among nerdy statisticians, but also Wall Street traders, biologists, and Silicon Valley developers. Companies as diverse as Google, Facebook, Bank of America, and the New York Times all use R, as its commercial utility continues to spread.

The article reveals yet another company using R: Bank of America. Journalist Anna Nicolaou interviewed a vice president there:

[R is] also catching on on Wall Street. Traditionally, banking analysts would pore over Excel files late into the night, but now R is increasingly being used for financial modeling, particularly as a visualization tool, says Niall O’Connor, vice president at Bank of America. “R makes our mundane tables stand out,” he says.

You can read much more about R and the other languages for crunching data, including Python and Julia, at the link below.

FastCoLabs: The 9 Best Languages For Crunching Data 

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