Finding the Right Data Science Consultant: Choosing Solutions for Suitable Problems
Data science and AI solutions usually entail gleaning invaluable precepts from available information. Certain businesses come up to data science experts, such as District Data Labs, to design products whose major function revolves around machine learning. An example would be a speech-to-text conversion tool. Others may be looking for a bespoke analytical and visualization platform to control their daily operations and use gleaned insights to make crucial decisions.
From the widest perspective, you can use data science to gather insights about your business and increase your operational efficiency, or to create AI-based applications to be used by your end-customers.
Customer-Side Apps and Fraud Monitoring
Customer-side applications are those that rely on machine learning algorithms address issues that your customers are facing. These are concrete products used by people on a daily basis or those which allow them to become more efficient in what they do.
Among several others, examples of such products are recommendation engines for eCommerce providers, sound recognition and analysis apps, and voice translators.
Business analytics (BA) is the practice of methodically exploring a business’ data, focusing on statistical analysis. The role of BA in a business is two-fold: to monitor business processes and to use data-provided insights as basis for making informed decisions. Data analytics consulting companies often use BA techniques as either business intelligence or statistical analysis.
Examples of business analytics applications are data management, client analysis and social media sentiment analysis.
Business analytics can come in handy for a range of problems, from easy reporting to operations improvement advice. And it is possible to deal with these problems using many types of analytics. For instance, if you are looking for ways to increase your sales, prescriptive analytics should be most effective. This type of analytics requires assessment of insights gleaned from past events and the reasons behind them, and predicting possibilities. With the use of prescriptive analytics, an organization can get advice on what has to be done to rule out possible future issues or how to take advantage of emergent trends.
Imagine your business being captured on film, every single moment and transaction of it, as part of a long series of episodes. Business analytics is the tool that allows you to go back to what happened, detect some truths, examine them, and finally draw logical conclusions. But you can do more than that. With BA, you can get you a deeper understanding of the reasons leading to events, predict what could happen in the future, and create a good plan that ensures a positive ending.
All that and more are reasons to partner with a highly reputed data analytics consulting company. Click here for more information about data analytics consulting services.
Researched here: a fantastic read