Source: semiengineering.com
Someone introduced this concept which has become a mantra for us. We want to democratize this science. Making it edible to all sectors of the organization through different paths, starting from training and continuing with daily use in the operational reality of each corporate role involved at the various levels in the business.
When a businessman feeds the database or takes data from a database to use it in strategic choices, is he really aware that he is using the data in the same sense as that imagined by the designer?
If the company invests in this vision, it will immediately find the advantages because the company decisions will be faster, the predictions more achievable, the company will grow faster, there will be fewer errors and they will be less serious, more objectives will be achieved, the costs in each of these areas, the total of which represents the item that fuels the company’s success.
Let’s put what we are saying into reality:
- Marketing and sales can apply Business Science to lead scoring, opportunity scoring, predicting time to close, and many other CRM-related use cases that most data science teams can’t prioritize, but are highly valuable.
- Manufacturers and retailers can benefit from Business Science for supply chain distribution and optimization, forecasting consumer demand, or exploring scenarios for adding new products to their mix.
- Human resources might use Business Science to assess the likelihood of a candidate accepting an offer by analyzing historical patterns and factoring the recruiter’s knowledge of how they can adjust the mix of salary, equity, benefits, etc., based on the candidate’s values.
- Corporate real estate might apply Business Science to plan where to buy office space and explore the costs of moving people between buildings or office locations. Here, human judgment could help balance the right budget considerations with any “office politics” (i.e. implications that may come with moving certain individuals or teams.
Last Updated on June 5, 2024
