How Can Data Science Help My Organization?

Analysis of customer behavior and personal data, and the subsequent feedback, help companies modify their products and services to better suit the current marketplace.

The most widespread and famous example encountered by anyone who uses the Internet is website recommendations and advertisements. Recommendation systems utilize a user's previous search results and thereby suggest the most relevant goods or services. Amazon, Google Play, Netflix, Twitter and many more platforms use such systems for digital advertisements.

Insights on customer behavior can be used to improve management. For example, by employing data science, you can strategically decide how many people you need to put on staff at any given time, in order to improve customer service.

Customer data is important. It helps companies understand how consumers are engaging with and responding to their marketing campaigns and find new target markets that they can capitalize on. As follows, a company can define how to sell a product to those who need it at a reasonable cost, at the right time and using the right channel.

The logistics industry is enormously big. This means that big data from a wide variety of sources must be handled properly: vehicle tracking data, geolocation data, sensor data, sales, customer service, etc. Delivery path optimization and warehouse optimization are case studies of the data science being applied in logistics. Predictive analytics can provide more precise market forecasting, which helps to decrease losses due to an oversupply or undersupply of inventory. Data science is used to improve operational efficiency in logistic companies like DHL, FedEx, UPS, etc.

Predictive analysis can improve HR management. Internet technologies and increasing mobility of people make the hiring process very competitive. The company spends 23.7 days on average to hire a new employee, while the best candidates stay on the market for only ten days. Predictive analytics technologies help HR teams to filter through thousands of resumes and create a base of the most promising candidates on a market. The advantages of using data science in hiring include decreased hiring time and increased candidate quality for the company. Predictive hiring in the recruitment process is successfully used by JetBlue, Wells Fargo, and others. Using Big data analysis, companies can also detect potential mistakes and flaws in work, boost employee retention, and increase employee engagement and productivity.

Leveraging the benefits of data science (a) provides more opportunities within a company's daily work routine and (b) offers a greater range of options in the selection and correction of a development strategy. These substantial results allow businesses to be increasingly competitive on the market.