Data Science
Data Science
DATA SCIENCE
Agenda
Introduction
Primary goals
Areas of growth
Timeline
Summary
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Introduction
Data science is a "concept to unify statistics, data analysis, informatics, and their related methods" to
"understand and analyze actual phenomena" with data. It uses techniques and theories drawn from
many fields within the context of mathematics, statistics, computer science, information science,
and domain knowledge.[6] However, data science is different from computer science and information
science. Turing Award winner Jim Gray imagined data science as a "fourth paradigm" of science
(empirical, theoretical, computational, and now data-driven) and asserted that "everything about
science is changing because of the impact of information technology" and the data deluge.
A data scientist is a professional who creates programming code and combines it with statistical
knowledge to create insights from data.
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The goals of data science are:Explore, sort and analyze megadata from various sources in order to take
advantage of them and reach conclusions to optimize business processes or for decision support.
Extract knowledge and insights from both structured and unstructured data.
Add value to any business by using its data to develop solutions and optimize day-to-day operations.
Be used for statistics, hiring candidates, and making more informed business decisions based on a data-
oriented approach.
Quarterly performance
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3.0 2.8
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2.0 1.8
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Q4 Q3 Q2 Q1
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Series 3 Series 2 Series 1
Areas of growth
B2B Supply chain ROI E-commerce
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Data science in Business
Adding data science to your business practices can make a marked difference in productivity, decision-making, and product
development. It can help you minimize or eradicate the risk of fraud and error, increase efficiency, and provide better customer service.
Data scientists can also help automate time-consuming functions in your business to leave more critical tasks to human hands and
minds. Consider the following key benefits data science brings to companies.
MEET OUR TEAM MEMBERS
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MEET OUR EXTENDED TEAM MEMBERS
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Plan for product launch
A great deal of data and resources should be used when planning, launching and promoting your brand’s latest innovation. Before you even launch a
product, you should be accruing data on the product’s category, retailer, and competition. For example, do you know the retailer’s speed to market?
Then, you need to revisit the data when it’s available on store shelves, and you’ve launched marketing campaigns. You need to make sure potential
customers know about it and understand why and how it will benefit them.
It’s data that can help you track the progress of your product. You can determine what part of your launch plan is going as anticipated, and what needs
course correcting. This way you can fully capitalize on this major moment.
You might be thinking that major players have all kinds of data they can use. But as a small CPG manufacturer, I can just go with my gut. But, the days of
following your gut are over and success only comes from listening to the numbers. That’s why small CPG manufacturers need a data-driven growth
strategy.
A successful product launch requires dedication, knowledge, and data. Luckily, all of this essential data is now easily accessible for small and mid-size
CPG teams thanks to NielsenIQ. With just a few clicks, you can get a clear picture of your brand’s areas of opportunity. You can also get immediate
answers about how your new product launches compare with your competitors.
Using analytics is key for any CPG brand looking to maximize sales and optimize its product assortment. Using this data, you can better convince retailers
to invest in your brand and give you valuable shelf space. To continue to grow your business, you also need to know the types of data your brand should
be measuring and understand how to optimize your trade promotions
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Timeline
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How we get there
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Summary
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T.Udaykiran
Thank you [email protected],m
www.contoso.com