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What is Data Science? Transforming Data into Business Value

These days, data science is something of hype, and everyone is talking about the magic it can do. This whitepaper will give you an introduction to what data science is, how it can benefit different industries, and where to start.

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NIX Data Science Whitepaper Will Describe:

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Data Science in Plain Words and How it Delivers Business Value
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How Data Science Empowers Industries
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8 Steps Before Starting a Data Science Project
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How to Choose a Software Vendor Wisely

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Data Science Benefits

Data science uses the power of artificial intelligence (AI), machine learning (ML), and business intelligence (BI) to find unseen patterns, derive meaningful information, and make better-informed business decisions. Application of data science solutions helps generate additional value for products, speed up operations, increase efficiency, and highlight data insights that bring game-changing advantages.

Data science uses the power of artificial intelligence (AI), machine learning (ML), and business intelligence (BI) to find unseen patterns, derive meaningful information, and make better-informed business decisions. Application of data science solutions helps generate additional value for products, speed up operations, increase efficiency, and highlight data insights that bring game-changing advantages.

  • Accelerated Internal Operations
  • Powerful Analytics
  • Intelligent Data-driven Decisions
  • Competitive Advantage for Clients
  • Making Generated Data Work for You
  • Measuring and Keeping Track of Everything
  • Business Insight Mining
  • Trend Capturing and Forecasting
Data Science Benefits illustration

Data Science Business Value for Industries

Today, more and more industries use data science to transform large amounts of data into valuable insights—healthcare, finance and banking, marketing, education, and more. For example, the application of data science in marketing teams helps determine which product or service is more popular and more likely to be sold.

The use of data science in the financial industry helps to detect any type of fraudulent transaction faster and use customer data to deliver personalized experiences. Today’s healthcare industry simply cannot do without the introduction of data science models, as they help in drug development, image analysis, etc.

Today, more and more industries use data science to transform large amounts of data into valuable insights—healthcare, finance and banking, marketing, education, and more. For example, the application of data science in marketing teams helps determine which product or service is more popular and more likely to be sold.

The use of data science in the financial industry helps to detect any type of fraudulent transaction faster and use customer data to deliver personalized experiences. Today’s healthcare industry simply cannot do without the introduction of data science models, as they help in drug development, image analysis, etc.

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Retail & eCommerce
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Marketing
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Finance & Banking
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Insurance
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Supply Chain & Logistics
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Education

Download Our Whitepaper “What is Data Science? Transforming Data Into Value“ to Dive Into The Benefits of Data Science For Your Industry

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Steps Before Starting Your Data Science Project

So you are ready to improve your data—where should you start? In this part of the whitepaper, our data scientists thoroughly describe the steps you need to take before launching your data science project to ensure its success. This tutorial will help you prepare before the application of data science in your business and simplify the kick-off for your engineering team.

Steps
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01 Ascertain if Data Science is What You Need
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02 Be Aware of Business Digitalization Maturity
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03 Determine your Business Goals
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04 Set up Data Collection
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05 Define KPIs
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06 Perform Risk Assessment
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07 Define your Toolset
888
08 Assemble the team

Download Our Whitepaper “What is Data Science?“ to Know How to Prepare Before Your Data Science Project

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