![]() ![]() Those that advance faster will have a significant competitive edge, and those that lag behind risk becoming irrelevant. With the advance of technology, knowing how to interpret what the data is showing and taking strategic actions using this kind of foundation will leverage companies’ results and reinforce how they relate to customers. However, few companies know where and how data analytics can create business value.ĭata science improves business efficiency and creates greater value through the information captured, developing analytics that generate insights by maximizing business, mitigating risk, increasing self-service retention, guiding the product and service strategy, and minimizing friction.įorward-looking companies are increasing their data science, analytics, and AI capabilities to connect more closely with their customers for an increasingly humanized service and to identify CX opportunities in real-time. However, the use of data science for business began to gain weight over the past two decades, when data became “the new oil”, giving way to the emergence of new professions such as the “data scientist.” After all, data is only valuable if people can analyze it and turn it into knowledge for generating insights. The data is stored and presented in various formats: videos, images, text, spreadsheets, signal sequences, tables, etc. ![]() More than ever, the information sourced from data science models is being used to guide business processes and achieve organizational goals. Patil, one of the most prominent experts on the subject, sums it up as “the ability to extract knowledge and insights from a large and complex set of data.” The University of Berkeley devised the Data Science Life Cycle, organized into five stages: capture, storage, processing, analysis, and communication. Technology experts say it is “an interdisciplinary field that uses scientific methods, processes, algorithms, and systems to extract value from data.” The mathematician D.J. ![]() There are different definitions for data science, a field that involves areas such as statistics, computer science, and software engineering, among others. In turn, the information sourced from data science models is used to guide business processes and achieve organizational goals. ![]() These include achieving greater speed and assertiveness for the best sales opportunities or improving the consumer experience using algorithms that make it easier to analyze behaviors and feelings, predict needs, guide strategies, and teach machines through experience to provide an increasingly humanized service. The strategic use of data allows organizations to improve various aspects of their approach to the company-customer relationship. More than ever, companies across sectors are investing heavily in tools and technologies that will help them get to know their customers better to provide an exceptional customer experience thus. The digital transformation, hastened by the impacts of the Covid-19 pandemic, has unleashed a revolution in the global economy, leading industries from all segments to seek ways to process large volumes of information to gain a competitive advantage. The importance of data science for business is something we hear about more and more. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |