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Data Science is Impacting Business

Data science is already changing lives for the better and even saving them. Automated analysis of data is prolific in many areas such as crime prevention and with medical science. Other examples include retailers are investigating why customers return goods despite prices being unmatched, ,deliveries being on time and quality being good, or manufacturers running open investigations into quality fluctuations. Sometimes organizations get into data science when they have a crisis such as a rise in customer complaints or a rapid drop in profitability.

In the movie, The Accountant, the main character played by Ben Affleck used Data Science to uncover the anomaly surrounding missing million of dollars. Surreal as it may seems, the mathematical logic behind the analysis uncovered the truth behind the crisis. Organizations today have terabytes of data in their systems, it is time to explore transformative patterns in your data. You are often collecting information as part of “Business as Usual” without realizing the data could be of great potential in other areas of your business.

Human decision making is increasingly inadequate in this digital era with the amount of Big Data available. Data science is needed to solve complex data-rich problems that overwhelm even the smartest person. A deep dive into your data could help you uncover something really interesting about your business that you are unaware of. Start with some basic data discovery with Business Analytics before expanding into a deeper dive by data scientist.

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