Data Science Creates Opportunities Across Industries
Data science goes beyond business intelligence (BI) and data analysis. With enough data, you can uncover factors you never thought would influence your outcomes. This enables you to predict developments, allowing you to take proactive action. Retail organisations, for example, can use data science to predict how much of a particular item will sell and adjust their inventory accordingly.
Taking a Step-by-Step Approach with Data
Experts suggest that organizations can increase their effectiveness and/or efficiency by up to 20% through data science. Yet, few companies are actively engaging with data science, likely due to the perceived complexity of the field. What steps should you take? Who should you involve? And what is the right business case? While these are valid questions, the complexity is often overestimated. By starting with a small, non-sensitive business case, organizations can quickly make significant progress.
