Data science equips enterprises with techniques and tools capable of translating business data into powerful insights. Results of those are capable of transforming industries in line with current needs and trends.
Combining a range of statistical techniques makes predictive analytics an answer to the challenges of various industries. Resulting in applications such as Pattern Recognition, Data Classification and Data Clustering, analytics are of help to e.g.customer segmentation in recommendation systems (streaming services), detecting patterns in e-commerce customer behaviour (online marketplaces), dynamic pricing based on shopping patterns and popularity (plane tickets, hotels), logistics optimization (food delivery services).
Data science consulting company
The process of empowering your business with data science starts with the identification of your data sources, followed by its evaluation, recognition and modelling. As a result, data models provide answers to which processes can be streamlined and what solutions applied. Understanding the data you possess leads to better decision-making, improving processes and designing more efficient, market-ready solutions. Consulting services let you turn models into commercially viable solutions and integrate various systems by incorporating data science into your enterprise.
By analysing patterns of transactional data and identifying links among occurring events, enterprises can define risks and opportunities. Interpretation of historical and current data provides a predictive score to make predictions about possible future events. Analytics lead to improving customer retention, boosting cross-selling and reducing risk due to generating credit scores.
Engaging the power of data through AI and NLP creates new opportunities and analysis of values hidden in the text is one of them. Discovering and extracting information from social media activity, website chats, business emails, feedback forms and surveys results in a better understanding of textual data. Text analytics is capable of sentiment analysis, text extraction, topic analysis, clustering and many more, leading to, among others, improving customer experience and online brand monitoring.
Though this be madness, yet there is a method in ‘t, citing the Bard of Avon. Data in its chaotic, raw form may cause troubles, as it is confusing, disordered and seemingly useless. But as soon as the right tools are applied and adequate processes employed, an orderly image appears. The value of your data depends on how well it is managed and how it can cater to the business needs. By analysing patterns of transactional data and identifying links among occurring events, enterprises can define risks and opportunities.
Data science as a service (DSaaS)
This model is a chance for enterprises lacking data analysts or data scientists. Providing services in the widely understood study of data helps in concluding structured and unstructured data. Cloud-based platforms of external providers aggregate your data and dedicated teams of analysts curate your datasets. With improved data governance and ease of deployment, DSaaS offers value to modern enterprises.