All Courses
AI Career Planner
1:1 Coaching/Mentoring
Job Board
SQL
HTML/CSS/JS
Coding
Settings
Logout
While descriptive data analytics showcases a true & genuine picture of the current status of business performance – data science extends to predict the future of the business given the historical data, and the dependent variables. Therefore, data science becomes extremely important for business for efficient planning as they can simulate the results prior to execution; and then take proactive measures to cater to potential hiccups and bottlenecks which could come in at a later stage.
Other than that, data science can also be used for prescriptive analytics as well guiding the business to follow best practices while devising any business or operational strategy.
Technology makes our lives better and easier. And data science as an emerging technology has already started doing that.
Sales is one arena where innovative applications of data science can already be seen. Companies have already made strides in harnessing the power of data science and use it to their advantage. For instance, companies use algorithms that forecast sales revenue to guide their decision-making. They also use analytics to devise strategies for optimizing the productivity and efficiency of their sales team. Data generated by algorithms aids sales reps in lead conversion and customer retention. All these helps businesses increase their growth and profitability.