{"id":3251,"date":"2021-06-30T06:06:21","date_gmt":"2021-06-30T06:06:21","guid":{"rendered":"https:\/\/businessner.com\/?p=3251"},"modified":"2021-06-30T06:06:21","modified_gmt":"2021-06-30T06:06:21","slug":"why-data-science-is-essential-to-optimize-business-efficiency","status":"publish","type":"post","link":"https:\/\/businessner.com\/why-data-science-is-essential-to-optimize-business-efficiency\/","title":{"rendered":"Why data science is essential to optimize business efficiency"},"content":{"rendered":"
Nielsen, the global gold standard-bearers in market research, recently found that 81% of consumers strongly feel that the businesses they patronize should focus strenuous efforts on protecting the environment. They want purchases that help reduce their impact on the natural world \u2013 and growing numbers of the savviest companies are taking heed of this trend and are offering sustainable products<\/a> to these conscientious consumers. But how do they know what products will appeal most to what demographics? The answer can be summed up in two words: data science.<\/p>\n Business today is conducted in a world that has become supersaturated with data. In 2020, the total volume of data generated in our digitalized world hit 44 trillion<\/em> gigabytes<\/a> \u2013 and it\u2019s still climbing.<\/p>\n Quantities of data as vast as this defy the computational powers of even the most mathematically and statistically brilliant human brains. And that\u2019s where data science steps into the breach, applying verifiable scientific methods, procedures, algorithmic protocols, and systems to glean valuable knowledge from the mountains of data that surround us.<\/p>\n Business efficiency today requires an ability to find the most valuable insights buried in those immense oceans of \u201cbits\u201d we\u2019re immersed in all the time. Since most of it is invisible to us, it only becomes discernible through specialized data science methods. Methods that organize and \u201cclean\u201d it so that it can be transformed into actionable information.<\/p>\n Here are a few reasons why data science has become crucial to business efficiency.<\/p>\nImproved actions based on quantified data<\/h2>\n