Modern technology can be leveraged in truly astounding ways, especially in business. But only by learning more about new applications of technology can you begin to improve your organization’s profitability. Take, for example, data science and machine learning.

While these terms are prominent in today’s society, not everyone may know what they mean or how they’re applied. So let’s walk through data science and machine learning to see how they can support your business reduce errors, be more efficient, and help your business grow as well.

What Is Data Science And Machine Learning?

These two areas of study are different, but each one can feed into the next to make the most out of your data. So, what is data science? It’s an area of study which seeks to better understand and analyze large quantities of data to extract meaning or insights.

Given that data plays such a critical role in marketing and beyond, data science is what all businesses should be focusing on. It serves to help you better understand where you can make improvements or apply strategies that continue to yield successful results.

Meanwhile, machine learning is a subset of artificial intelligence that employs algorithms that help machines analyze, make predictions, and produce insights from data. This allows you to automate data analytics, reduce human error, and help you work through large quantities of data faster.

With a better understanding of these two methods, it’s easy to see why they’re so popular in today’s business landscape. But even so, we need to see how they’re being applied to see their true value for your business.

Data Science and Machine Learning Examples

When it comes to data science, the main goal is to gain insights from big data.

One example comes from supply chain optimization. If you operate a business that sells physical products, you have a host of data surrounding shipping times, delivery times, and warehouse operations. By applying data science, you can:

• Determine where errors are being made in the warehouse to eliminate them and get packages out with greater efficiency.
• Shorten delivery times by selecting optimal routes for your company’s fleet.
• Use historical data and make predictions to reduce obstacles caused by traffic, or take advantage of a spike in sales around a certain season.

Now, imagine what you can do when you apply artificial intelligence to handle your data. Some smart uses of machine learning in today’s business world include:

• Using available data to help professionals make more effective business decisions in marketing, finance, and more.
• Helping customers find the right products based on data from their own personal search or purchase history.
• Reducing customer churn by analyzing why a company is losing customers, and even helping businesses make any necessary adjustments.

Begin Your Journey With Rower Consulting

Here at Rower Consulting, we equip our clients with the tools they need to get the most out of their data. So if you’re ready to make your data work for you, contact us to learn more about how we can help you leverage data science and machine learning for improved decision making!