efl – The Data Science Institute is an industry-academic partnership between Goethe University Frankfurt, TU Darmstadt, and the industry partners Deutsche Börse Group, DZ BANK Group, Finanz Informatik, American Express, and FACTSET Digital Solutions located at Goethe University Frankfurt. Its mission is to contribute to the evolution of traditional industries towards "digitized and high-performance industries" by solving practical and theoretical problems with the tools of data science and methodology of scientific research.

The Data Science Institute was formed from the E-Finance Lab that was founded twenty years ago to develop scientific yet managerial methods for rearranging the business process of the financial service industry. On the basis of this successful project, efl – The Data Science Institute was newly-created to help other industries beyond the finance sector for which data analysis is also important.

Prof. Dr. Peter Gomber is one of the principal investigators at efl – The Data Science Institute.