Organisations are taking traditional business processes such as strategy, sales, marketing, pricing, and HR, and using digital technologies to make them better and give them competitive advantage.
With Data Science, businesses no longer have to make their important decisions based on best-guesses or hunches.
Instead, they’re analysing large amounts of real data to base their decisions on real, data-driven facts.
That’s really what Data Science is all about — creating value through data.
It can be a central capability of its own – such as people with specific skills for analysis and statistical modelling – that feeds and interacts with the business owners that use its analysis, interpretations and outputs to design better experiences.
Or, it can be more distributed with certain aspects being centralised, such as data lakes or single customer directory.
Today’s technology, database tools, collection, processing and analysis platforms are very powerful, and if approached the right way, can ready an organisation to be truly data-driven with relative ease.
Only then can the business take itself to the next level of eXperience Management (XM) and benefit from being truly data-driven.