Business and enterprise have always crunched numbers in order to plan, grow and increase profits. Yet a new wave of data science is fundamentally changing the way companies operate. In this article, we highlight how advanced data science and analytics can transform everyday commercial operations.

Advanced data science and analytics is now widespread

Data science methods including AI algorithms and powerful data analytics are now applied broadly, from sales analytics through to industrial processes and risk management. For example, Gartner estimates that by 2021, 30% of (net) new revenue for solutions made for specific industries will now involve AI tech.

Few sectors and applications are untouched by today’s wave of data science and analytics applications. From science and industry through to financial service, e-commerce, education, healthcare, fashion, retail, logistics, warehousing, agriculture and more, the power of data is becoming readily apparent.

Applying data science and analytics

In moving beyond run-of-the-mill number crunching using simple maths, companies are discovering powerful insights in their existing data sets. These insights depend on cutting edge data techniques that are incredibly flexible, leaving almost no area of business untouched. These are just some of the areas in which data science and analytics can render large benefits:

Business growth and profitability

Data methods can help businesses acquire new customers while making existing customer relationships more profitable. Data analytics techniques including regression analysis and automatic data classification highlights insights that can assist with: