Only a few years ago, data science wasn’t as popular as it is now. In fact, it didn’t have much of an existence beyond the minds of geeky data scientists. But in the present economic climate, Big Data has become crucial to the establishment and success of any online businesses. The e-commerce business portals are heavily reliant on Big Data to understand their customers and create products according to their needs.
Why Big Data?
Big Data can help your business in many ways. Primarily, it can enable you to provide your customers with personalized user experience. With the help of Big Data, your system will be able to recommend products to customers on the basis of their personal searches. This creates an interactive relationship between you and the customer, something a lot of people love and appreciate.
Big Data can also help you analyse the prices of similar products in the market, and then set the prices of your own products accordingly. This is an effective tactic that you can use to ensure that the prices of your products are at par with the competition in the market.
Also, with Big Data, you will gain information about why customers may be leaving a site without making a purchase. Factors like security issues, unresponsive customer service operators and others may play into this decision. With the help of Big Data, you will be able to design a site that is both responsive to the customer’s needs and is secure as well.
Now that we have understood the meaning and importance of Big Data, as well as the difference it can make to an online business, it is time to learn about the people who make all the magic happen – data scientists.
Where do data scientists come in?
If you run an online business, then the data scientist is probably the most significant individual you will employ. These magicians are responsible for analysing and processing layers upon layers of Big Data to draw analytics and predict future market trends. They may not always have the most effective technical support at their disposal, but they do manage to make the most of what they have and bring effective and positive results to the table.
Data scientists work with Google Analytics and SQL for the most part. They are also responsible for designing databases for websites in accordance with the information they gather from analysing Big Data.
Examples of how data analytics can improve your business
1. Security enhancement
Remember the Wannacry virus? That, along with other lesser-known but equally dangerous cyber hacks have caused the downfall of plenty of businesses. This can be reversed with the help of Big Data. Data analytics enables you to use software that protects your business’s sensitive information.
2. Engage with the audience
Target used data analytics and Big Data to predict the approximate time at which one of its customers was going to have a baby. Thus, with Big Data, you will be able to teach a whole new level of accuracy in determining the kinds of products that your customers may be looking forward to at any point in time.
3. Better customer service
The advent of AI and chatbots has enabled many healthcare organizations to provide better and quicker customer service to their patients. This has also been made possible by Big Data and data analytics.
Ways to learn some of the data science skills
The enormity of the responsibility resting on a data scientist’s shoulders would imply that data science is an extremely skill-based profession. You too can learn the basics of data science quite easily.
If you want to be a data scientist in your free time, or if you want to learn the skills for your personal knowledge, there are plenty of videos and blogs that you can learn from. YouTube will give you all the search results you need to learn the art of data science quickly, easily and from the comfort of your own home.
However, for an aspiring professional data scientist, the learning path is quite advanced and important. People who want to take data science as a job needs several refined skills that will enable them to understand, assimilate and dissect a large amount of data and draw comprehensible results from it. There are quite a few online courses, learning paths and coding schools which will provide you with all the guidance that you need.
The life of a data scientist is challenging, but rewarding at the same time. Plus, almost all businesses, both big and small, are employing one or more data scientists to utilise Big Data to their advantage. Their demand will only increase as more and more online businesses open up and the importance of Big Data is fully realized.