Why has it become important now?
Data Science leads to cost reductions. Many organizations have found wastage by analyzing the data and applying the findings to improve their processes. Organizations have been able to reduce some of their costs to the tune of 10%.
Processing TIme Reductions
Data Science has been successfully used to determine root causes of failures, issues and defects in near-real time. It has also led to entire new business processes which get completed very fast. For example, generating coupons at the point of sale based on the customer’s buying habits and recalculating entire risk portfolios in minutes.
Introduction of New Products
Big data innovation is to share ideas and concepts on how to efficiently extract the knowledge & insights from data that we hold as organizations; big data scientific inquiry requires less reliance on existing knowledge.
Smart Decision Making
Topping the list of benefits realized from big data analysis are better strategic decisions (69%), improved control of operational processes (54%), better understanding of customers (52%).
Why Data Science matters?
Data Science is all around us. The massive volume of data which is being collected is worthless unless insights can be gleaned from it and converted into useful business outcomes. What good is collecting data about customer's site visits if it can not be used to increase sales or provide better customer service?
We all know that garbage in leads togarbage out. A good quality data is the heart of good Data Science. We know how to make your perfect so that you get the best results.
After Data Quality, Data has to be analysed to identify those critical few features which are crucial to solving your business problems.
Data Driven Business Models
The features identified are used to create a model which helps us predict the behaviour of your system and leads to better business outcome.
Great visualizations help us not only communicate to wider audience but also help us more than what is out there.