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Data Science Use Cases In The Business Sector
Data driven knowledge insights have nowadays become a major essential commodity for the development of any business enterprise. Experts have even coined Big Data as the ‘New Oil’ for business development. If believed to the view of the experts, global data volume is expected to reach over 44 trillion gigabytes by the end of 2020.
To make the most out of these huge Big Data reserves, enterprises need deploy the analytics applications of Data Science as a part of their business intelligence strategy.
If you are interested in leveraging real-world hands-on knowledge in the analytics applications involving Data Science, then being a part of Data Science Training In Hyderabad program by Kelly Technologies will be the ideal choice.
Now, let’s have a look at the use cases of Data Science in the business sector.
- Better Decision Making With Quantifiable Evidence
Most of the data which is generated as part of the business development process comes in an unstructured format. The percentage of unstructured of data accounts to over 80% & to analyze this form of data it requires extensive use of analytics tools involving Data Science. Upon processing & subjecting this data to predictive models, business stakeholders can take accurate scenario based actions to take to improve performance.
- Improving The Relevance Of Your Product
Analytics Models in Data Science are very much capable of analyzing the customers historical data, comparisons to competition, analyze the market trends to come up with accurate product recommendations.
By analyzing the data from customer reviews enterprises can grasp clear idea of how their product is being used the most & based on this analysis they can redesign their product offerings as per their customers’ interest.
- To Better Understand The Customers
On an average, every business generates over 2.5 billion GBs of data per day. By collecting the customer data from the likes of social media, website visits, or email surveys & by subjecting this data to data analysis process, businesses will be in a better position to understand the changing needs & interests of their customers.
Know more in-depth about the application of Data Science in Businesses across various streams & transform into an industry-ready Data Science expert with the help of Kelly Technologies Data Science training program.
Kumar Raja is a multidisciplinary writer, and lifelong learner. He’s a Digital Marketer in the making who spends his time analyzing the developments in the tech world. He’s very passionate about helping people understand the latest trends in the tech world through his well-researched articles. He’s able to condense complicated information about the latest technologies into easily digestible articles.