Building capacity for open, data-driven science - Grand Rounds
Data Science for Data-Driven Business
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DATA SCIENCE DATA-DRIVEN BUSINESS
description
Data Science as well as Big Data is no longer a buzz world. It has become a of business strategy for organizations who want to gain competitive advantage on the markets. So how data science helps businesses make better decisions?
Transcript of Data Science for Data-Driven Business
DATA SCIENCEDATA-DRIVEN BUSINESS
1m. 2 million search queries on Google
72 hours of videos uploaded on YouTube
www.571 new website created.com
500K + tweets Tweet
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Key factors for Data Science to become a part of our businness lives.
Every minute:
$390+ million spent on web shopping
Add to cart
24h
5 000 megabytes generated DAILYby an average American office worker
500K+ GB of data processed by FacebookPost
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In some countries online retailers start kicking offline retail out of the market due to increasing number of customers who wish to shop online, one of the most obvious cases is household electronics retail. Most of purchases here are done online now.
Every 24 hours:
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Last 2 years
90% of world’s data was generated
Data generation speed is growing exponentially
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Growing volumes and key influencers
Mobile
Social networks
Internet of things
Growth in amount of transactions in enterprise sector
Computing power growth
DATA:
Data Science helps organizations make better decisions
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Data Scientists help to transform growing volume, variety and velocity of Data to new business insights and drive your business forward to competitive advantage.
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Volume
Velocity
Variety
Business insights
Competitive advantage
Data analysis & processing
Appropriate action
Statistics
Visualization
Math
High performance computing
Data warehousing
Domain expertise
Data engineering
Machine learning
Natural language processing
Data Science Skills
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Data Science project flow - CRISP modelBusiness
Understanding
Deployment
Evaluation Modeling
Data Preparation
Data Understanding
Technology behind Data Science
Big Data processing
Machine learning
Predictive analytics
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Benefits
Process efficienc
y
New products & business
models
Customer experience
Improve process efficiency, reduce costs and manage risks.
Create new products or business models based on data science capabilities
Enhance customer experience and increase loyalty, pricing and offers. Improve advertising and overall more targeted marketing, as a result – boost sales. ©Copyright ELEKS Ltd.,
2014
Largest privately held independent broker/dealerLog processing with single dashboard, Hadoop
Predicting IT market expenditures based on macroeconomic trends and IT expenditures in past periods Online Retailer
Online recommendation engine that builds anew customer experience, promotes specificproducts based on current trends, customerbrowsing and purchase history and sentiment analysis. The solution proved to increase boththe visit-to-purchase ratio and the averageinvoice amount.
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IT market size prediction model
Real business cases on how organizations have used
their data to succeed:
About the Author:
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Daniil Shash, MBA is a Data Science Product Manager at ELEKS a global organization providing software engineering, consulting and quality management services.
Daniil helps business organizations benefit from Data Science solutions.
