How Data Science Pervades
May 2, 2017
We think Information Management may be overstating a bit with the headline, “Data Science Underlies Everything the Enterprise Now Does.” While perhaps not underpinning quite “everything,” the use of data analysis has indeed spread throughout many companies (especially larger ones).
Writer Michael O’Connell cites a few key developments over the last year alone, including the rise of representative data, a wider adoption of predictive analysis, and the refinement of customer analytics. He predicts, even more, changes in the coming year, then uses a hypothetical telecom company for a series of examples. He concludes:
You’ll note that this model represents a significant broadening beyond traditional big data/analytics functions. Such task alignment and comprehensive integration of analytics functions into specific business operations enable high-value digital applications ranging far beyond our sample Telco’s churn mitigation — cross-selling, predictive and condition-based maintenance, fraud detection, price optimization, and logistics management are just a few areas where data science is making a huge difference to the bottom line.
See the article for more on the process of turning data into action, as illustrated with the tale of that imaginary telecom’s data-wrangling adventure.
Cynthia Murrell, May 2, 2017
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